Games Workshop has reported record revenue and pre-tax profit following strong growth across its core Warhammer business.
Revenue increased by 6.8 per cent to £659.7m in the year to 31 May 2026, while pre-tax profit rose from £262.8m to £275.7m.
Core revenue grew by 10.9 per cent to £626.8m, with core operating profit rising by £33.3m to £245.1m. Its core gross margin improved from 69.5 per cent to 71.1 per cent.
Trade sales delivered the strongest performance, increasing by 17.2 per cent to £405.3m. Games Workshop added around 1,000 independent retailers during the year, taking its global network to approximately 9,100 accounts.
Retail sales increased by 2.1 per cent to £131.4m. The group opened 42 stores and closed 14, ending the period with 598 locations across 24 countries.
Online revenue slipped by 0.6 per cent to £90.1m, although it increased by 2.3 per cent at constant currency.
Licensing revenue fell from £52.5m to £32.9m following the previous year’s launch of the Space Marine 2 video game. This reduced licensing operating profit from £49.5m to £29.9m.
Games Workshop paid £160.1m in dividends and awarded employees a £5,000 profit-share payment. It ended the year with £182.9m in cash and no debt.
The Nottingham-based group is increasing production capacity through its new Factory 4 and has leased an additional warehouse at Sawley, which is due to open in 2027.
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