FINANCES: Games Workshop Out of the Woods?
Games Workshop is seemingly in good order. They are elevating their 2011 estimate. The company’s shares have gone up 12% thanks to their restructuring efforts – closing a manufacturing plant in China, moving the North American offices, and moving towards more online sales.
From The Guardian:
“Games Workshop is currently 45p higher at 415p, and in a buy note analyst Charles Hall at Peel Hunt said:
We are upgrading our 2011 estimate by 25%, as the gross margin and cost reductions are higher than expected and restructuring charges lower than anticipated. In addition, cash balances have risen, and this has enabled the company to accelerate dividend payments. We were previously forecasting a 25p payment for the final dividend – we now expect a total payment of 30p.
We are upgrading our 2011 estimate by 25%, as the gross margin and cost reductions are higher than expected and restructuring charges lower than anticipated. In addition, cash balances have risen, and this has enabled the company to accelerate dividend payments. We were previously forecasting a 25p payment for the final dividend – we now expect a total payment of 30p.”
The official release from GW is available here.
So do you think GW has pulled out of the doldrums and if so, how did they manage it?
