GW’s Feeling Good About Fiscal 2016-2017

We won’t see the full report for a few weeks but Nottingham is showing a little leg on their last year.

If there is anything we can say about GW in 2016-2017 – it would be “change”.

The year brought us the reinvention of the company that was the punching bag so many used to throw punches at.  A quick walk down memory lane for the last 12 months gives us:

How to save a gamesystem with one small book.

  • General’s Handbook
  • Disciples of Tzeentch
  • Blades of Khorne
  • Burning of Prospero
  • Wrath of Magnus
  • Khardon Overlords
  • Traitor Legions
  • Gathering Storm Vol 1-3

I’m sure I forgot some, but that’s the highlights.

“I told GW to change… or else”

Then we get into the shocking outreach to their customerbase.  This past year saw:

  • Social Media Outreach.
  • Use of 3rd party external playtesters.
  • Support for non-GW organized competitive events.
  • Opening of online carts for GW sales.

 

I know – utter craziness. Apparently they have something to show for all the changes. Here’s what they are saying about their past year’s performance:

“Following the close of its 2016/17 financial year Games Workshop provides the following trading highlights:

Games Workshop is pleased to announce that the sales and profit growth, which was discussed in the March 2017 trading update, has continued in the period to the end of May 2017.

We expect the Group’s sales for the year to 28 May 2017 to be approximately £158 million and the Group’s profit before tax to be above market expectations at not less than £38 million.  Sales and profits have benefitted from the continuing favourable impact of the weaker pound.

We will provide the detailed information on the audited results for the 2016/17 financial year at the time of our full year results announcement on 25 July 2017.”

For some baselines, here is how they did on their previous fiscal year report:

 

Now it’s still not matching the sales monster that is Asmodee, but than again GW doens’t have a giant conglomerate pouring money into it’s coffers to spend on growth. I’ll let you all argue about what changes were the most important, how much Brexit mattered, but what else contributed to this – but the numbers don’t lie.

~Have at it!

  • Crevab

    I’m highly critical of many things GW, but you put good in, you get good out

    • Jabberwokk

      No further improvement to the assessment needed.

      • Muninwing

        this is the logical opposite of a certain piece of 80s computer slang — GIGO

        “garbage in, garbage out”

  • vlad78

    Brexit is a fantastic opportunity on short term because the pound is so low GW prices are competitive again overseas. I haven’t had such opportunities to buy GW product at such a low price since 2008. (even if I hate AOS)

    In the long run, GW is lucky to have subsidiaries in continental europe given that the possible (even if not likely but we shouldn’t dismiss every possibilities) end of free trade of goods within UE can really be a kick in the privates.

    • euansmith

      Watching the fall of the £ vs the € and $ has been a sad sight from within the UK. The cost of Kickstarters is bad enough, but, extrapolating that level of loss to the entire economy is sickening.

      • marxlives

        I don’t know, Amerika is doing pretty okay right now. Then the $ is the standard by which all other currency is judged. Amerika, just saying.

        • Muninwing

          wait awhile, there’s about three bubbles that are threatening to pop…

          and the economic extremists are pushing for the dismantling of safeguards against other bubbles even as we speak.

          the US is again adopting the “short term gain, long term loss” policies that have caused every recession and depression we’ve had. we could have another in as soon as two years.

      • Hagwert

        To be fair the steel industry in my home town has been in decline for nearly three decades even though we make some of the best quality steel in the world . Successive generations of politicians of all parties have talked big but done nothing and let us go to the wall…..and then Brexit came along. The pound fell, orders poured in from overseas, the order books filled up and they actually started to take on extra workers instead of making redundancies. It’s been a long time since many people in my home town have had that kind of hope…..a very long time.

        • euansmith

          Every cloud has a steel lining, it would appear 😉

    • danutzfreeman

      Depending on how the UK leaves the EU importing from them will mean VAT,if that happens i’m gonna have to look for other sites that sell GW products cause buying from their website or even Wayland will cost me a lot more.

    • Cergorach

      In 2008 it came very close to £1=€1, I remember, those were the days that GW pricing was also a lot lower then it is now. I bought a LOT those years…

  • euansmith

    Good on yer, GW.

  • Christie Bryden

    wow, its almost as if focusing on the things people have been saying should be focusing on (namly taitor legions and tzentch) payed off, now how about a chaos dragon model and new death forces for age of sigmar?

    • Vicent Martín Bonet

      Khornate Dragon will be made by forgeworld.

      Death seems to be getting toys in shadespire, expect battletome.

      • that Khornite dragon is nice but is going to have around an $800 price tag…

        • AEZ

          Well… it’s FW 😀

  • Cergorach

    And they’re still not doing any market research… 😉

  • Cameron

    The Social Media ramp up is the driver of this. They are about ten years behind but doing a great job of playing catch up.

  • eMtoN

    Who would have thought that when you engage with your customer that you end up with more customers. Glad to see GW turning things around.

  • marxlives

    I dont understand the Asmodee comment. I thought GW was a publicly traded company not a privately owned one?

    • It’s not a good comparison that’s for sure

    • Lord Blacksteel

      It’s the other worldwide hobby game company – some comparison is inevitable but it’s not a perfect match, no.

    • Red_Five_Standing_By

      it is not a fair comparison, especially when Asmodee’s entire business model is based around licenses that prop up and pay for games made with their own IP.