GAW GAMES WORKSHOP GROUP PLC ORD 5P

GAMES WORKSHOP Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	03-Jun-12	29-May-11	30-May-10	31-May-09	01-Jun-08
Continuing Operations
Revenue	131.01	123.05	126.51	125.71	110.35
Operating Profit/(Loss)	19.14	15.24	16.05	8.93	2.55
Net Interest	0.00	0.06	0.28	1.20	1.65
Profit Before Tax	19.47	15.29	16.12	7.46	1.06
Profit After Tax	14.71	11.24	15.08	5.35	0.45
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.12	0.01
PROFIT FOR THE PERIOD	14.71	11.24	15.08	5.47	0.45
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	14.71	11.24	15.08	5.47	0.45

Continuing EPS
Earnings per Share - Basic	46.80p	36.00p	48.40p	17.20p	1.40p
Earnings per Share - Diluted	46.60p	35.70p	48.10p	17.20p	1.40p
Earnings per Share - Adjusted	46.80p	36.00p	48.40p	17.20p	1.40p
Continuing and Discontinued EPS
Earnings per Share - Basic	46.80p	36.00p	48.40p	17.60p	-2.40p
Earnings per Share - Diluted	46.60p	35.70p	48.10p	17.60p	-2.40p
Earnings per Share - Adjusted	46.80p	36.00p	48.40p	17.58p	1.42p

Dividend per Share	47.00p	45.00p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	03-Jun-12	29-May-11	30-May-10	31-May-09	01-Jun-08
Assets
Non-Current Assets
Property, Plant & Equipment	20.57	21.05	23.26	25.38	26.42
Intangible Assets	6.61	6.40	7.32	7.24	7.49
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.01
Other Non-Current Assets	8.86	8.29	7.60	6.27	4.24
	36.04	35.74	38.18	38.90	38.17
Current Assets
Inventories	9.48	8.43	10.14	10.68	10.39
Trade & Other Receivables	11.48	10.38	10.34	9.99	10.72
Cash at Bank & in Hand	17.36	17.57	17.09	10.36	7.72
Current Asset Investments	0.00	0.00	0.00	0.21	0.02
Other Current Assets	0.00	0.00	0.00	0.00	0.46
	38.31	36.39	37.57	31.23	29.32

Total Assets	74.35	72.12	75.75	70.13	67.49

Liabilities
Current Liabilities
Borrowings	0.00	0.00	0.00	-0.00	-2.79
Other Current Liabilities	-24.25	-16.89	-18.43	-17.92	-18.13
	-24.25	-16.89	-18.43	-17.92	-20.92

Net Current Assets	14.06	19.50	19.15	13.31	8.40

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	-12.00	-15.00
Provisions	-1.19	-1.68	-1.44	-1.59	-1.32
Other Non-Current Liabilities	-0.30	-0.43	-0.58	-0.63	-0.72
	-1.49	-2.11	-2.02	-14.22	-17.04

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-25.74	-19.00	-20.45	-32.14	-37.96

Net Assets	48.61	53.13	55.30	37.99	29.53

Capital & Reserves
Share Capital	1.58	1.56	1.56	1.56	1.56
Share Premium Account	8.74	8.05	7.84	7.82	7.82
Other Reserves	2.44	2.74	3.72	1.84	-0.32
Retained Earnings	35.85	40.78	42.19	26.78	20.47
Shareholders Funds	48.61	53.13	55.30	37.99	29.53

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	48.61	53.13	55.30	37.99	29.53

Ratios - based on IFRS	03-Jun-12	29-May-11	30-May-10	31-May-09	01-Jun-08
Continuing Operations
PE Ratio - Adjusted	12.02	11.88	7.16	12.06	123.21
PEG - Adjusted	0.40	-0.46	0.04	0.01	-1.08
Earnings per Share Growth - Adjusted	30.00%	-25.62%	181.40%	1128.57%	-113.59%
Dividend Cover	1.00	0.80	n/a	n/a	n/a
Revenue Per Share	416.92p	394.63p	406.38p	403.82p	354.54p
Pre-Tax Profit per Share	61.97p	49.03p	51.78p	23.96p	3.40p
Operating Margin	14.76%	12.43%	12.93%	6.62%	2.07%
Return on Capital Employed	45.09%	31.70%	33.19%	19.53%	6.57%

Continuing & Discontinued Operations
Dividend Yield	8.36%	10.53%	0.00%	0.00%	0.00%
Dividend per Share Growth	4.44%	n/a	n/a	n/a	-100.00%
Net Asset Value per Share (exc. Intangibles)	132.95p	149.66p	154.11p	98.77p	70.78p
Net Gearing	-35.71%	-33.08%	-30.90%	4.34%	34.10%

Data is provided by Morningstar

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