		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/games-workshop-hit-by-falling-sales.jpg"><img class="alignnone size-full" title="Fantasy war games retailer Games Workshop said pre-tax profits were likely to be below expectations" src="http://londonglossy.com/wp-content/uploads/2011/01/min-games-workshop-hit-by-falling-sales.jpg" alt="Fantasy war games retailer Games Workshop said pre-tax profits were likely to be below expectations"/></a></p>
<p>Fantasy war games retailer Games Workshop has warned on annual profits after it revealed a downturn in sales towards the end of 2010.</p>
<p>The company, which makes collectable figurines for Warhammer and Lord of the Rings battle games, said pre-tax profits for the year to May were likely to be below market expectations of about £17 million.</p>
<p>Shares slid by 14% after sales fell 4% in the half-year to the end of November, suggesting a sharp drop in sales since the company last updated the market in September.</p>
<p>Current trading conditions mean it is unlikely to make up the shortfall over the second half of the financial year.</p>
<p>Julian Tolley, an analyst at HB Markets, issued a sell rating on the stock and estimated that the sales weakness might reduce profits by 10% in the year.</p>
<p>He said: &#8220;Back in September the first quarter update was trading in line with expectations, so the downturn has been abrupt in the second quarter and is ongoing.&#8221;</p>
<p>The Nottingham-based company added that it continues to control its gross profit margin and costs.</p>
<p>The chain was established in 1975 by gaming enthusiasts from London and has some 380 stores in locations including the UK, US and Australia.</p>
<p>The majority of its models are made in Nottingham and Memphis. Games Workshop also publishes a monthly hobby magazine called White Dwarf available in five languages.</p>
<p>It made a pre-tax loss in 2007 after the popularity of its Lord of the Rings characters waned and it reduced the size of its store estate. But it has grown its pre-tax profits every year since then and made £16.1 million in the year ending May 2010.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e3f4ae7c865">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e3f4ae7c865',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
