If a company significantly increases its Christmas bonus pool, you'd normally assume that trading is healthy and management expects a strong period ahead.
Tip style
Growth
Risk rating
Medium
Timescale
Long Term
Bull points
- High margins
- Rising dividends
- Strong return on capital
- Net cash position
Bear points
- Softer revenue growth
- Amazon deal uncertainty
But Games Workshop (GAW) shares were marked down by over 10 per cent on the back of a half-year update last week which, along with confirming a £3mn increase in employee profit share scheme payouts, revealed softer trading in the wargame miniature maker’s second quarter.