Games Workshop, the miniature wargames and fantasy figurines manufacturer, fell after it said that first-half pre-tax profits would be no less than £86 million, in line with management’s expectations but below the £91.6 million it made the previous year.
The FTSE 250 group, however, said it expected sales of not less than £190 million, higher than the £186.8 million generated a year ago, saying that the reopening of its shops had boosted sales. The company also outlined plans to hand a £2,500 cash bonus to staff worth £6.9 million. Shares in Games Workshop slid 290p, or 2.9 per cent, to £94.60.
The wider market was more upbeat with the FTSE 100 up 26.51 points, or 0.4 per cent, to 7,366.44 and the more UK-focused FTSE 250 gaining 99.44 points, or 0.4 per cent, to 23,337.15.
The housebuilder Berkeley Group rose 214p, or 4.7 per cent, to £48.49 after increasing earnings guidance for the full-year by 5 per cent. The upbeat outlook boosted sentiment for its peers with Persimmon adding 41p, or 1.4 per cent, to £28.60; Barratt Developments lifting 9p, or 1.2 per cent, to 741p and Crest Nicholson picking up 12¾p, or 3.5 per cent, to 364¼p. Taylor Wimpey was the one faller, down ½p, or 0.3 per cent, to 167½p, after it said that Pete Redfern was stepping down as chief executive after 14 years.
The biggest hit to London’s stock markets were airline stocks after Tui, the travel company, warned that the pace of holiday bookings had slowed since the emergence of the Omicron variant. Its shares dropped 6p, or 2.7 per cent, to 211¾p. IAG, the British Airways owner, followed suit, down 4p, or 2.2 per cent, to 139¼p; Wizz Air shed 153p, or 3.4 per cent, to £43.03 and easyJet fell 14¼p, or 2.5 per cent, to 540p.
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Investors piled into Croda International after analysts at UBS tipped their clients to buy the stock, leading shares in the FTSE 100 chemicals company up 410p, or 4.1 per cent, to £10.46½.
Man Group climbed to the top of the mid-cap index after the fund manager’s $250 million share buyback programme commenced. The shares were up 13¾p, or 6.4 per cent, to 229½p.
