GAME: Gamestation integration running smoothly

As part of GAME Group’s first-half update in which it revealed stunning sales and its plan to open 60 more stores, it also updated the trade on the integration of Gamestation into its business as the £74 million deal continues to reap rewards.

“Gamestation continues to perform well and the Board is focussed on further strengthening the business through integration, implementation of best practice and realising the synergies from the acquisition,” said GAME chairman Peter Lewis.

“In line with previous guidance, we expect to generate cost and revenue synergies of around £7m in the current financial year which implies an annual run rate for the 2009/10 financial year of around £10m. The non-recurring integration charge for the current year will be between £4m and £5m. Furthermore, there will be capital expenditure of around £4m in the current year required to achieve our integration plans.”

The update was revealed just as GAME updated the trade on its first half sales, store opening plans and a major new recruit - click any of the links for more.