Games Workshop posted an annual report which showed record full-year profits, headlined by a 29.5% jump in pre-tax profit to £262.8 million. The FTSE 100-listed Warhammer maker and retailer saw its revenues jump to £617.5 million from £525.7 million, with core revenue increased to £565 million from £494.7 million, while licensing revenue rose to £52.5 million from £31 million. Games Workshop exceeded the guidance it gave in May which was for group pre-tax profit of not less than £255 million, core revenue of not less than £560 million and licensing revenue of around £50 million. The company said the Games Workshop shops and the Warhammer hobby were “in great shape”. In early trading, Games Workshop shares were up 3.9%
Entain delivered a trading update which showed that its BetMGM joint venture saw a stronger than expected trading performance in the second quarter and the half year. The FTSE 100-listed gaming group said BetMGM first half net revenues were up 28% year-on-year to $891.0 million, while underlying earnings rose to $109.0 million, a turnaround from a $123.0 million underlying loss a year earlier. Entain said BetMGM's first half performance provided it with increased confidence in the long-term profitability and opportunities for the business. It added that BetMGM, which is jointly owned by Entain and US firm MGM Resorts International, is now expected to deliver net revenues of at least $2.7 billion and underlying earnings of no less than $150.0 million. Etain shares were up 1.7% in early morning trading.
Greggs reported interim results which saw a drop in profits, part of which it blamed on the weather. In the first half to 28 June, the high street bakery group saw its pre-tax profit fall 14.3% to £63.5 million, even as total sales rose 7% to £1.03 billion. The FTSE 250-listed firm said company-managed shop like-for-like (LFL) sales rose 2.6%, while franchised shop LFL sales were ahead 4.8%. The FTSE 250-listed firm said the first half was affected by "challenging" market footfall, more weather disruption than in 2024, and the phasing of cost headwinds. Greggs had already cautioned earlier in July that LFL sales in June were impacted as very high temperatures increased demand for cold drinks but reduced overall footfall. In early trading, Greggs shares shed 3.2%.
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Interim Results - - Greggs (GRG)
