The market is relieved there is no bad news hiding in the latest trading update from fantasy miniatures maker Games Workshop (GAW) as the shares rally 5% to £31.45.
In October, investors were spooked by a warning of ‘some uncertainties’ that may affect trading.
It looks like this concern was misplaced as trading is on track with a forecast £124m in sales and anticipated operating profit of £41m in the six months to 2 December.
Warhammer enthusiasts, who use miniatures to simulate battles between terrestrial armies, are behind the robust trading as the hobby remains in ‘great shape’ according to Games Workshop.
By its year-end in May, sales are expected to soar to £234.9m and pre-tax profit is anticipated to hit £68m.
Christmas will be a vital trading period for the company with an update currently pencilled in for 15 January, but Games Workshop signals its confidence on the outlook with its latest payout.
The company is set to pay a 30p dividend, in line with its policy of returning extra cash to shareholders.
