In a brief trading update, the owner of the wargaming franchise Warhammer said its preliminary estimates of its results for the six months to 1 December 2019 are for sales of not less than £140mln and profit before tax of not less than £55mln.
The group also said that royalties receivable are significantly ahead of the prior year driven by the timing of guarantee income on signing new licences.
For the half-year to 1 December 2018, the FTSE 250-listed firm reported constant currency revenues of £124.2mln for and operating profits of £40.8mln.
House broker Peel Hunt upped its price target to 5,000p from 4,800p, reiterating the ‘buy’ recommendation, as it increased its forecast by 9% – with full-year profit before tax estimated to be £93mln as opposed to £85mln set out previously.
Shares jumped 19% to 5,354.37p reaching all-time highs on Friday afternoon.
–Adds shares, broker’s comment–