Games Workshop stock holds on record profit growth

Games Workshop (GB0003718474) is framed by a 52-week range of GBP 116.00 to GBP 157.50, while the latest annual report showed revenue of GBP 494.0 million and profit before tax of GBP 203.5 million for the year to 2 June 2024.

GBP 494.0 million revenue

In its annual report for the year to 2 June 2024, Games Workshop said revenue rose to GBP 494.0 million from GBP 470.8 million a year earlier, a gain of GBP 23.2 million, or about 4.9%. The same period delivered profit before tax of GBP 203.5 million, up from GBP 174.8 million, and that gap between sales growth and profit growth remains the most important investor detail.

The dividend profile also stays visible in the numbers. The company declared a final dividend of 85 pence per share for the year to 2 June 2024, taking total ordinary dividends for the year to 420 pence per share, while total cash dividend payments remained a defining feature of the equity story.

Profit outpaces sales

The margin signal is what stands out most from the 2024 report. Profit before tax of GBP 203.5 million on revenue of GBP 494.0 million implies a margin of roughly 41.2%, compared with GBP 174.8 million on GBP 470.8 million a year earlier, which implies about 37.1%.

That comparison gives the stock a clear fundamental anchor even without a fresh trading update in the current search set. For investors, the key point is that Games Workshop remains a high-margin consumer brand with unusually strong cash generation for a specialist games publisher and manufacturer.

52-week range sets the tone

The share has traded between GBP 116.00 and GBP 157.50 over the latest 52-week span available in market data, which places the current valuation debate squarely between growth durability and margin sustainability. That range is useful because it frames how much optimism the market has already priced into the company after years of earnings expansion.

One more dated reference matters for context: the company paid an interim dividend of 195 pence per share for the year to 2 June 2024, before the 85 pence final dividend completed the ordinary payout. The dividend pattern shows how cash returned to shareholders has become a central part of the stock case.

Citadel models drive demand

Games Workshop's core product range is still built around its tabletop hobby ecosystem, with Citadel miniatures, rulebooks, and related gaming products feeding both core sales and community retention. The annual report ties that product base to the company's ability to sustain revenue of GBP 494.0 million and profit before tax of GBP 203.5 million in fiscal 2024.

The product mix matters because it supports repeat purchasing rather than one-off sales. That is the deeper reason the market keeps paying attention to both release cadence and the strength of the hobby network around the Warhammer universe.

Dividend income remains central

Games Workshop stock last had a clear market-value anchor in the GBP 116.00 to GBP 157.50 52-week band, while the latest annual report still points to a business that can convert sales into cash. On the reported fiscal 2024 numbers, revenue reached GBP 494.0 million, profit before tax reached GBP 203.5 million, and the ordinary dividend for the year totaled 420 pence per share.