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Just so long as it runs out after Exodites are done!

But in all seriousness they have a tonne of room left to explore, I wouldn't worry.

Well deserved. Now they just need to keep this up.

To me, the concern is how sustainable this is.

Precisely. I see this as going one of two ways now. 8th Edition is a hit, revitalizes the community and we see success the likes of which have never been seen since peak LOTR, or 8th edition is actually 6.5.1, more people start to tire of it, GW start to run out of "never" releases so they start redesigning the same old stuff over again, and we have just essentially reset the clock on the decline.

Good to see solid business practices and no brainer initiatives rewarded where it counts though, it can only encourage GW Corporate to keep on the more positive track they've been going down.

This is good news the question is can they keep it up? I am hopeful though. Kevin is correcting the ship their take on social media and the community engagement helped a lot I think.

Can someone please explain something to me. Since it's a lot of numbers that I don't understand, what was the 4 million pounds (how do you do the pound symbol on a US Keyboard?) was? What that the total profit for 2016 when it was released in January or was that released in June?

So how does the 13 million pound compare to the 4 million pound from the last report? Is it the same total profits after expenses or different meanings one is total profit the 4 million while the 13 million means something else.

To me it seems GW quadrupled their profits but then reading them talking about lessening and what not sure what the 13 million is total profit or total profit after expenses or what not.

Davor wrote:
Can someone please explain something to me. Since it's a lot of numbers that I don't understand, what was the 4 million pounds (how do you do the pound symbol on a US Keyboard?) was? What that the total profit for 2016 when it was released in January or was that released in June?

So how does the 13 million pound compare to the 4 million pound from the last report? Is it the same total profits after expenses or different meanings one is total profit the 4 million while the 13 million means something else.

To me it seems GW quadrupled their profits but then reading them talking about lessening and what not sure what the 13 million is total profit or total profit after expenses or what not.

£13 million is the expected operating profit for the company for the six months from June 2016 to November 2016.

£6.2 million (not sure where you got 4 from) was the operating profit for Games Workshop between June 2015 and November 2015.

So you can see that they have more than doubled their profit compared to the same period last year.

Operating profit is what the company makes after all costs (rent, wages etc) and tax is deducted.

They haven't really said anything that you can use to draw conclusions about anything.

We have profit but not revenue and the number we have isn't at constant currency. Brexit happened pretty close to the start of this financial year and even before brexit the pound was a lot weaker than it was in 2015, so the exchange rate is going to be a biggy and because we have profits instead of revenue we can't say much about it.

AllSeeingSkink wrote:
They haven't really said anything that you can use to draw conclusions about anything.

We have profit but not revenue and the number we have isn't at constant currency. Brexit happened pretty close to the start of this financial year and even before brexit the pound was a lot weaker than it was in 2015, so the exchange rate is going to be a biggy and because we have profits instead of revenue we can't say much about it.

"Over the first half we have seen strong sales and profit growth in constant currency terms."

I would agree though that the value of the pound has probably had a bigger impact than I initially thought. However 50 percent of GW sales are in the UK (or were in the last financial report where they broke the numbers up into regions). Whatever caveats you add, these are great results.

animal310 wrote:

Davor wrote:
Can someone please explain something to me. Since it's a lot of numbers that I don't understand, what was the 4 million pounds (how do you do the pound symbol on a US Keyboard?) was? What that the total profit for 2016 when it was released in January or was that released in June?

So how does the 13 million pound compare to the 4 million pound from the last report? Is it the same total profits after expenses or different meanings one is total profit the 4 million while the 13 million means something else.

To me it seems GW quadrupled their profits but then reading them talking about lessening and what not sure what the 13 million is total profit or total profit after expenses or what not.

£13 million is the expected operating profit for the company for the six months from June 2016 to November 2016.

£6.2 million (not sure where you got 4 from) was the operating profit for Games Workshop between June 2015 and November 2015.

So you can see that they have more than doubled their profit compared to the same period last year.

Operating profit is what the company makes after all costs (rent, wages etc) and tax is deducted.

Thank you very much. The 4 million is sticking in my head. I don't recall a 6.2 million anywhere. But you explained it well to me and again, thank you.

They never got a penny from me this year, or the last 5 years.

They burnt too many bridges with me to ever go back, plus, there is so much good stuff, cheaper, from rival companies. I need no GW.

I will always cherish my GW memories from years ago, but the GW ship sailed a long time ago for me...

Have you posted that in a GW financial thread for the last 5 years?

animal310 wrote:
Operating profit is what the company makes after all costs (rent, wages etc) and tax is deducted.

Actually, operating profit is after costs, but before tax.

 Azreal13 wrote:

animal310 wrote:
Operating profit is what the company makes after all costs (rent, wages etc) and tax is deducted.

Actually, operating profit is after costs, but before tax.

There may be different definitions of operating profit in the US and UK. I'm no expert but pre-tax profit or profit before taxation is listed on the attached reports

http://19485-presscdn-0-14.pagely.netdna-cdn.com/wp-content/uploads/2016/07/Combined-document-with-front-page.pdf

http://19485-presscdn-0-14.pagely.netdna-cdn.com/wp-content/uploads/2016/01/2015-16-Press-Statement.pdf

 Do_I_Not_Like_That wrote:
They never got a penny from me this year, or the last 5 years.

They burnt too many bridges with me to ever go back, plus, there is so much good stuff, cheaper, from rival companies. I need no GW.

I will always cherish my GW memories from years ago, but the GW ship sailed a long time ago for me...

I buy £100 more stuff off them every time you post tha sentiment from my special DINLT account, as far as GW know you still love them so you can go back into anytime you want, the Nu-BB set is delicious.

You can thank me later mate.

All jokes aside good luck to GW they have weathered a storm (much of their own making) and are doing allot of stuff we have been asking for for years.

It still seems like a big profits spike, so unless there is a significant (10%+) increase in turnover and unit sales then allot if the profit could be license related. As ever the full 12 month report makes for more informative reading.

animal310 wrote:

AllSeeingSkink wrote:
They haven't really said anything that you can use to draw conclusions about anything.

We have profit but not revenue and the number we have isn't at constant currency. Brexit happened pretty close to the start of this financial year and even before brexit the pound was a lot weaker than it was in 2015, so the exchange rate is going to be a biggy and because we have profits instead of revenue we can't say much about it.

"Over the first half we have seen strong sales and profit growth in constant currency terms."

I would agree though that the value of the pound has probably had a bigger impact than I initially thought. However 50 percent of GW sales are in the UK (or were in the last financial report where they broke the numbers up into regions). Whatever caveats you add, these are great results.

That line still doesn't say much. What are they defining as "strong" sales? And profit growth could mean either increase in revenue and/or decrease in costs.

I don't think they're anywhere near 50% sales in the UK, They still have some breakdowns in more recent reports and Retail UK only makes up 33% of total retail while trade for UK AND Continental Europe only make up 34% of all trade. So the only way they'd be near 50% is if UKites made up almost all of the mail order sales and I don't think there's any reason to believe that.

EDIT: I'm not actually sure where you're going 50% from, even in 2014 when they still had a region by region breakdown it was more like 20-25% of revenue came from sales in the UK. 2013 was only 23%.

animal310 wrote:

 Azreal13 wrote:

animal310 wrote:
Operating profit is what the company makes after all costs (rent, wages etc) and tax is deducted.

Actually, operating profit is after costs, but before tax.

There may be different definitions of operating profit in the US and UK. I'm no expert but pre-tax profit or profit before taxation is listed on the attached reports

There may be, but I'm British, so are you, and so are GW. Also while anyone who self proclaims themselves an expert is generally a douche, I do hold relevant qualifications and have relevant experience in the field.

Operating profit and pre tax profit are usually broadly synonymous in the case of a retail company, the only small distinction is operating profit includes profit from whatever the company ostensibly does for a living but not any interest it may have accrued on investments etc, hence the small difference in the reported figures.

In either case, it is a pre tax figure.

 Azreal13 wrote:

animal310 wrote:

 Azreal13 wrote:

animal310 wrote:
Operating profit is what the company makes after all costs (rent, wages etc) and tax is deducted.

Actually, operating profit is after costs, but before tax.

There may be different definitions of operating profit in the US and UK. I'm no expert but pre-tax profit or profit before taxation is listed on the attached reports

There may be, but I'm British, so are you, and so are GW. Also while anyone who self proclaims themselves an expert is generally a douche, I do hold relevant qualifications and have relevant experience in the field.

Operating profit and pre tax profit are usually broadly synonymous in the case of a retail company, the only small distinction is operating profit includes profit from whatever the company ostensibly does for a living but not any interest it may have accrued on investments etc, hence the small difference in the reported figures.

In either case, it is a pre tax figure.

I stand corrected. Learn something every day!

 Tannhauser42 wrote:
To me, the concern is how sustainable this is. GW has released a lot of stuff in the past year or so. While we know that more is to come (specialist games, maybe more 40K primarchs, 8th edition, etc.), how much longer before the train starts to lose steam?

I think you might be surprised. Alan Merrett was more responsible for a lot of the issues people had with gw than Kirby was. His rigid view of what 40k should be caused a number of internal problems (his "imperial vehicles can only have tracks" is a prime example, hence the tracked taurox that originally had wheels). Him gone and Jes in place means that a huge amount of previously withheld creativity is now able to be explored, so we could be in for a lot of new stuff over the next couple of years.

We can only hope.

While it will take a 40K that I'm excited to play to get me back, I'd much rather be gazing wistfully at the new releases while others get excited than just seeing some new nonsense being roundly derided by everyone and thanking my lucky stars I'm playing other games.

AllSeeingSkink wrote:

animal310 wrote:

AllSeeingSkink wrote:
They haven't really said anything that you can use to draw conclusions about anything.

We have profit but not revenue and the number we have isn't at constant currency. Brexit happened pretty close to the start of this financial year and even before brexit the pound was a lot weaker than it was in 2015, so the exchange rate is going to be a biggy and because we have profits instead of revenue we can't say much about it.

"Over the first half we have seen strong sales and profit growth in constant currency terms."

I would agree though that the value of the pound has probably had a bigger impact than I initially thought. However 50 percent of GW sales are in the UK (or were in the last financial report where they broke the numbers up into regions). Whatever caveats you add, these are great results.

That line still doesn't say much. What are they defining as "strong" sales? And profit growth could mean either increase in revenue and/or decrease in costs.

I don't think they're anywhere near 50% sales in the UK, They still have some breakdowns in more recent reports and Retail UK only makes up 33% of total retail while trade for UK AND Continental Europe only make up 34% of all trade. So the only way they'd be near 50% is if UKites made up almost all of the mail order sales and I don't think there's any reason to believe that.

EDIT: I'm not actually sure where you're going 50% from, even in 2014 when they still had a region by region breakdown it was more like 20-25% of revenue came from sales in the UK. 2013 was only 23%.

Actually they do still have a breakdown even in the 2016 report....


UK 33,021
Continental Europe 32,391
North America 40,788
Asia Pacific 10,981
Rest of the world 888
Total 118,069

So 28% of revenue came from the UK last financial year.

 BrotherGecko wrote:
Have you posted that in a GW financial thread for the last 5 years?

No.

I could feel the change in them and the community. If they want money from me for years release kroot army, demiurge army, elder exodites, a completely new xenon race, update the dark elder with a cool big release, and keep the tau stuff coming. Also deathwatch models techmarine needed and a cool stealth ground transport.

 notprop wrote:

 Do_I_Not_Like_That wrote:
They never got a penny from me this year, or the last 5 years.

They burnt too many bridges with me to ever go back, plus, there is so much good stuff, cheaper, from rival companies. I need no GW.

I will always cherish my GW memories from years ago, but the GW ship sailed a long time ago for me...

I buy £100 more stuff off them every time you post tha sentiment from my special DINLT account, as far as GW know you still love them so you can go back into anytime you want, the Nu-BB set is delicious.

You can thank me later mate.

All jokes aside good luck to GW they have weathered a storm (much of their own making) and are doing allot of stuff we have been asking for for years.

It still seems like a big profits spike, so unless there is a significant (10%+) increase in turnover and unit sales then allot if the profit could be license related. As ever the full 12 month report makes for more informative reading.

I looked at BB and although the heart said yes, the head said NO!
I opted for Guildball instead. Hadn't had a game yet, but I'm impressed with what I got in terms of rules and minis.

 JamesY wrote:

 Tannhauser42 wrote:
To me, the concern is how sustainable this is. GW has released a lot of stuff in the past year or so. While we know that more is to come (specialist games, maybe more 40K primarchs, 8th edition, etc.), how much longer before the train starts to lose steam?

I think you might be surprised. Alan Merrett was more responsible for a lot of the issues people had with gw than Kirby was. His rigid view of what 40k should be caused a number of internal problems (his "imperial vehicles can only have tracks" is a prime example, hence the tracked taurox that originally had wheels). Him gone and Jes in place means that a huge amount of previously withheld creativity is now able to be explored, so we could be in for a lot of new stuff over the next couple of years.

I'm not disbelieving that this is the case and if true then its great that he has gone, but where has this information come from? Was he also responsible for the Facebook shutdown, crazy cease and desist orders against community websites, the destruction of White Dwarf (much improved now), the drive to centralise Black Library and remove all non bolter action stories from the line up, stupid re-naming of things like Orcs and Imperial Guard?

Lot of appalling decisions. I can't work out how any of them were supposed to help the company.

 JamesY wrote:
I think you might be surprised. Alan Merrett was more responsible for a lot of the issues people had with gw than Kirby was. His rigid view of what 40k should be caused a number of internal problems (his "imperial vehicles can only have tracks" is a prime example, hence the tracked taurox that originally had wheels). Him gone and Jes in place means that a huge amount of previously withheld creativity is now able to be explored, so we could be in for a lot of new stuff over the next couple of years.

Really? Bet he just loooves FW's Custodes hover tank
RE the profits though, haven't GW been investing heavily in new tech in recent years? I'd imagine finally getting all that in place would free up a lot of money on the balance sheets.

Let's see... gw lowered their prices (a little), have released many boxed sets that are steals (BAC, BOP, etc), released a points system for AOS, released boxed games again (blood bowl, space hulk, deathwatch overkill, etc). They are listening to the community, making better products, lowering prices, and making what folks want.

Makes sense to me, doesn't take a business major to see why their profit is up.

haven't GW been investing heavily in new tech in recent years?

Not so you'd notice. One would assume investment in new tech is a normal cost of running a business like theirs, but it hasn't been a headline number over the last three or four years I can recall.

They did give Kirby's wife £4m for the new website though.

 Tannhauser42 wrote:
To me, the concern is how sustainable this is. GW has released a lot of stuff in the past year or so. While we know that more is to come (specialist games, maybe more 40K primarchs, 8th edition, etc.), how much longer before the train starts to lose steam?

A good question, but they could just update what they have until the end of time, and the possibilities for supplements and events are endless.

 Gamgee wrote:
I could feel the change in them and the community. If they want money from me for years release kroot army, demiurge army, elder exodites, a completely new xenon race, update the dark elder with a cool big release, and keep the tau stuff coming. Also deathwatch models techmarine needed and a cool stealth ground transport.

Sorry can't resist, it's an OCD but it's Demiurg, no 'e' on the end. http://wh40k.lexicanum.com/wiki/Demiurg

Do people think GW are somehow scraping the barrel already? Even if they burn out on all the 40k support they're currently doing, there are so many classic games I'd like them to bring back! I don't get it. /shrug