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Core growth in H124

Games Workshop Ltd's (GAW’s) H124 results demonstrated the strong underlying revenue growth and higher profitability in its core activities that should be expected with the launch of a new edition of its main intellectual property (IP), Warhammer 40K. The share price has drifted down over the last six months, bringing the prospective P/E multiples for FY24 and FY25 of 23.3x and 22.4x back to more recent average multiples.


17 January 2024


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