BoLS logo Tabletop, RPGs & Pop Culture

Games Workshop’s 2020-2021 Annual Summary – Stunning Results!

3 Minute Read
May 21 2021

The Games Workshop 2020-2021 Annual Update is here. And yes, GW is still killing it.

Games Workshop just released their quick update for their fiscal year. These dates cover the six months to November 29, 2020 and things are looking great for the miniatures company.

via Games Workshop Investor Relations

“Games Workshop Group PLC announces that the Board has today declared a dividend of 50 pence per share, in line with the Company’s policy of distributing truly surplus cash. This will mean that total dividends declared in the 2020/21 financial year will be 235 pence per share (2019/20: 145 pence per share). The dividend of 50 pence per share will be paid on 5 July 2021 for shareholders on the register at 28 May 2021, with an ex-dividend date of 27 May 2021. The last date for elections for the dividend re-investment plan is 14 June 2021.

For the year to 30 May 2021, we estimate the Group’s sales to be not less than £350 million (2019/20: £270 million) and the Group’s profit before tax to be not less than £150 million (2019/20: £89 million). This includes royalties receivable from licensing which are estimated to be approximately £15 million (2019/20: £17 million). As in the prior year, in recognition of our staff’s contribution to these results, we will have paid during the year profit share bonuses amounting in total to £12 million (2019/20: £2 million). These are paid on an equal basis to each member of staff.

We expect to announce our 2021 annual report for the year to 30 May 2021 on 27 July 2021.”

Previous Half-Year

For Comparison, here is the Half Year update from back in January. You can do the math to figure out how much they sold in the last 6 months:


Overall Sales/Profit Margin


Overall, it’s pretty clear that Games Workshop is having a record year so far. This is especially impressive in regard to COVID. The launch of 40K 9th Edition is clearly a big part of it, but GW has seen all kinds of distribution and supply issues over the last six months. The key passage is:

“For the year to 30 May 2021, we estimate:

Group’s sales to be not less than £350 million (2019/20: £270 million) @30% Increase year per year

Group’s profit before tax to be not less than £150 million (2019/20: £89 million).” @68% Increase year per year

The company is running a 42% profit margin, which is astronomical by corporate standards – way, way into the luxury goods segment.  We will have many more details when the full numbers come out on May 30.

Profit Sharing

The Standard reports this on GW’s bonuses and COVID strategy:

“Around 2,500 staff at retailer Games Workshop have landed share bonuses worth £12 million thanks to soaring profits as demand surged among locked-down hobbyists. The group said each employee will receive £5,000 in shares under its profit-share scheme.
Games Workshop has been able to offset lockdown store closures by shifting sales online and through wholesale trading. In its first half, sales through its ecommerce platforms increased by 87.7% to £46 million, while wholesale trade sales increased 33% to £104.9 million.”

Have fun with this one – enjoy!

  • Games Workshop Rumor Engine: 'Visions of Beasts' - Chaos And Cauldrons