StockMarketWire.com - Miniature wargaming company Games Workshop said it expected lower first-half profit amid rising costs, including higher staff wages.

For the six months to 28 November 2021, pre-tax profit was expected to be no less than £86 million, compared with £91.6 million last year, while sales were expected to be at least £190 million, compared with £186.8 million last year.

'Our operating profit-pre royalties receivable is estimated to be down about £15 million,' the company said.

'However, excluding foreign exchange movements, increased carriage costs and the costs of paying more to our great staff, our core business operating profit is broadly in line with last year's exceptional performance,' it added.

Licensing income increased to £19 million from £8.7 million, driven by 'significant computer game licensing deals with Nexon and other major licensees,' the company said.

Dividends declared in the period were 100p per share, up from 80 pence last year.

Further details would be announced in the half yearly report which would be released on 11 January 2022.

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