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Equity Bottom-Up

Games Workshop Group PLC / Equity Bottom-Up

<p>Games Workshop Group’s (GAW’s) trading update states core and licensing revenue in January and February 2025 have been better than expected, continuing the momentum in Q325 that was reported at the time of the H125 results. As a result, we increase our FY25 PBT estimate by c 9%, while leaving our FY26 estimate unchanged.</p>

Games Workshop Group’s (GAW’s) trading update states core and licensing revenue in January and February 2025 have been better than expected, continuing the momentum in Q325 that was reported at the time of the H125 results. As a result, we increase our FY25 PBT estimate by c 9%, while leaving our FY26 estimate unchanged.

Games Workshop Group — Momentum continued into Q325