Games Workshop Shares Rally After Kirby Pep Talk

Posted on July 30, 2014 by Jon

Today GWs shares have rallied, after the poorest set of profit results for many years and to the continued trend of dwindling sales. We can only assume Tom Kirby has attracted investors with the news of a positive horizon. No threat of 3d printers talking over and no need to worry about future falling profits, even after axing 100s of sales staff across the globe, reducing store opening hours and continued falling sales. Usually a sign the medium term future does not look good.

For some reason I’m remembering the South Park episode. Where the dictator says “Guy’s it’s ok, don’t worry, you can trust me”.

Perhaps it was the news Tom has decided again to hire a CEO. Perhaps it’s the fact there is still enough cash in the bank that the new CEO will be able to make further changes. Dispute 4 million being spent on a new web store and a further 0.5m on severance pay. You have to wonder how long it will take for these measures to pay off. Investors may be wondering why when profits were falling the acting CEO decided to embark on such an expensive project.

The other possibility is that investors had seen some desperate measures from GW to prop up the balance sheet i.e. 7th edition and where expecting the end of year statement to be a repeat of the mid year statement, fortunately for the provider of the worlds most popular table top war game, it wasn’t. After a dividend payment which indicated GWs profit figures where going to be around 8m profits have been announced at 12m. Of course profit would have been 15m. If the web store had not been upgraded.

What ever the reason it does appear the market had responded positively to GWs end of year report. I’m still opting to pay off my mortgage rather than sink money in to GW.

Ben’s Thoughts on the New Ork Models

Posted on June 15, 2014 by Jon

Ben has been texting me about Orks this weekend. I wanted to share some of his thoughts.

“I have a small ork army, which I’ve been wanting to move to being a bit bigger. Spending £30 to keep playing with the same models has not convinced me I should progress the army. Instead I’ve spent £95 mostly on 2nd hand Tyranids. Only £20 went to GW the rest has gone to ebay sellers for more of the same. I’d love to be spending money on new GW kits but they are too expensive and not that nice to look at compaired to the old metal models. I’d sonnet get the old stomper over the new Morkanought. The new Shock attack gun it yuk, as is the head on the Ork firing it. If I did add a shock attack gun to my Ork army and I don’t think a shock attack gun is any where near the top of my list, I’d try to find and old finecast or metal model.

So that’s Ben’s take on the new Ork models. What is yours? Personally I like the artillery.

Go on, let me know which one you think looks better?.

Games Workshop Dividends At All Time Low

Posted on June 10, 2014 by Ben Jackson

Last week Games Workshop announced a dividend per share of only 20 pence. While at the same point last year the dividend was only 16 pence there was an interim payment of 24 pence in February 2013 and 18p in 2012, making the total dividend 58 pence per share in 2013. Given the share price at the time dividends were announced of 613 pence, the 20 pence dividend is only a 3.33% return per share compared to 8.1% last year. It stands to reason the value of the stock should be taking a dive, however the share price has only improved since the 25% fall in January.

It appears having no CEO, closing stores in central locations, closing their major marketing even aka games day, releasing 40k two years early, delaying Warhammer and putting up prices on new products has not translated into higher profits.

Will acting CEO Thomas Henry Felix Kirby now change course?

Urgently appoint a new CEO
Open more stores in central locations to gain new customers
Relaunch games day
Refocus on beautiful affordable models
Release a more balanced version of Warhammer
Lower entry level prices, rules, codex, starter sets and troops.
Drop the Hobbit and find a new franchise – such as Star Wars?

We will see.

From the Investor website

2014 Result

“Games Workshop Group PLC announces that the Board has declared a dividend of 20 pence per share. This will be paid on 4 July 2014 for shareholders on the register at 13 June 2014.”

2013 Result

“Games Workshop Group PLC announces that today the Board has declared a dividend of 16 pence per share. This will be paid on 5 July 2013 for shareholders on the register at 31 May 2013”

Games Workshop Group PLC announces that the Board has declared a dividend of 24 pence per share. This will be paid on 16 April 2013 for shareholders on the register at 8 March 2013..

Bane Blades Eight Years On

Posted on June 9, 2014 by Jon

Well here we are trying to find our feet or even work out what rule set we are playing with. With the community welcoming the rules that are 7th edition, but not the frequency of a 100 week rules cycle and confused about how unbound armies and other rules are going to pan out. I thought I’d role back the clock, not just two years but 8 years. I would rather go back 10 years, but it’s very hard to work out what was going on in the later days of 3rd edition. Given the lack of 40k websites running at the time.

So what was happening back in June 2006?
It was rumours and early pictures of the BaneBlade. It’s hard to imaging a game of Apocalyse without one of these bad boys now. How has the BaneBlade survived? Compared to other kits released back in 2006 it’s done rather well. It’s still a mean mother to shift and still puts out a ton of firepower. Considering it’s modest points value I think these bad boys are a worthy entry for the citadel hall of fame. It’s probably time I added a Guard contingent to my own Imperial Force.

Should You Buy 40k 7th Edition?

Posted on May 24, 2014 by Ben Jackson

7th edition hits
Yesterday copies of 7th edition were being opened and people were realising the internet had again disappointed gamers, by putting out false rumours. It appears the words credible are not well understood by certain websites. I’m looking at the big well known sites here.

Is it really a new edition?
In terms of rules changes the 7th edition set is an update to 6th edition, not a new version of 40k. It’s more like a big FAQ has been inserted in the old rule book. If you want a really good overview of the changes Talk Talk have posted a lengthy article. 40k 7th Edition Rules Changes TalkTalk Wargamming

There is still nothing from GW in terms of an PDF update to bring 6th edition books in line. There has also been no news on Golden Demon or Games Day 2014.

What’s Good About The New Book
The value in 7th edition comes from the expansion on the way you can choose an army, the expanded missions, mission cards and expanded psychic system. Did you notice I said expanded? Yep that’s what I see this box as, an expansion like apocalypse. Veterans who remember Dark millennium will see a lot of similarities. They will probably be worrying this will destroy 40k with a cumbersome and over powered psychic system. I don’t believe it will though.

The “other” books
There two other books included in the box are interesting. One really is a big Warhammer 40k visions with big blown up pictures, for those of us who can’t see the amazing detail the heavy metal team have painted into the models. The other book is full of background and art which looks very familiar. After 6 other sets of 40k background, I find it very hard to read the same thing reworded, again and again. Resulting in missing what has actually changed.

Summary
It’s good value, it will add a new dimension to games, it’s not a new version of 40k, it’s not an essential purchase unless the other gamers you play with are going to use it. I know lots of gamers who are waiting for the new box set or rules only version before taking the leap on this one.

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