Warhammer Maker Tops U.K. Stock Gains for 2017 as Profit SurgesBy
Games Workshop is biggest riser in FTSE All-Share Index
Peel Hunt raises profit estimates by 38% after statement
The U.K. maker of Warhammer battle games overtook copper miner Kaz Minerals Plc as the biggest gainer in the FTSE All-Share Index this year after saying sales and profit are booming.
Games Workshop Group Plc shares jumped 10.4 percent to 1,812 pence at 9:00 a.m. in London, extending its advance for the year to 154 percent. That takes it past Kaz’s 145 percent gain at the top of the 640-member index.
Business has continued strongly in the first quarter, with revenue and earnings “well above the same period in the prior year,” Games Workshop said in a brief statement Tuesday.
According to Peel Hunt analyst Charles Hall, the company’s performance has been helped by a strong customer reception to June’s launch of Warhammer 40k, the latest edition in a long-running series of tabletop war games. Hall, who has a buy rating on the stock, raised his estimate of pretax profit for the year through May 2018 by 38 percent to 55 million pounds ($71 million).