HOBBITS HELP LIFT GAMES WORKSHOP

SHARES soared at Games Workshop as bosses said profits were likely to beat expectations.

They rose more than 10pc or 137p to 1469p as the miniature wargaming manufacturer said trading over the latest quarter had been way ahead of the same period last year.

The company is based in Nottingham and sells about 75pc outside of the UK. It is behind the popular table-top miniature game Warhammer 40,000 as well as The Hobbit series of miniatures ( pictured).

Yesterday it also announced the retirement of its chairman and former chief executive Tom Kirby, 67, who joined in 1986 as general manager and led a management buy out in December 1991.

Games Workshop made £38.4m profit during the year to May 28, on sales of £158m. It paid £23.8m in dividends. During the year it opened 31 stores generating £2.4m of sales.