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GAME profits treble in bumper financials

GAME’s preliminary results for the financial year ended January 31st 2007 boast international operating profits of £6.1 million – more than three times 2006’s figure of £1.6m. Overall sales were up from £645.1m in 2006 to £801.3, while like-for-like sales rocketed to £16.2m, up significantly from £4.2m. Online, profits more than doubled, rising from £0.7m in 2006 to £1.5m this year.

The leading games retailer also promised 80 new stores and the continued growth and development of its online operation this financial year.

Strong sales of the newly-launched PS3 were also praised, and the retailer’s moves into the Australian, Norwegian and Portuguese markets were also singled out as major boosts for the group.

"This good set of results demonstrates the appeal of GAME’s specialist proposition and enhanced consumer offering,” said GAME chairman Peter Lewis. “The industry transition to new technology is now complete and although we remain conscious of the competitive environment in which we operate, we believe the strength of our brand and our unique specialist offering gives us a robust consumer proposition."

"We have seen a strong start to the year, in what is traditionally a quiet sales period for GAME, thanks to the PS3 launch and hope to continue to build on our success throughout the year," he added.

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