GAME: Gamestation integration running smoothly - MCV

GAME: Gamestation integration running smoothly

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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.

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