High Street games retailer GAME has credited the success of next-gen consoles for a strong performance in the first half of 2007 that has seen like-for-like sales climb 45.6 per cent and profits reach 6.2 million.
In contrast, in the same period last year the chain reported a 5.6 million loss. Group turnover was also up from 2006's 272.9 million, hitting 482.4 million, thanks largely to the acquisition of former rival Gamestation.
The strong performance reported today is a result of our hard work in getting GAME properly positioned ahead of the new technology cycle,” GAME chairman Peter Lewis stated..
We have a fast growing international business and are well placed for further organic growth. We look forward to the key Christmas trading period when our store portfolio will exceed 1,120 across the UK, Continental Europe and Australia.”
Elsewhere in its report, GAME stated that the cost of integrating Gamestation will hit around 5 million, and that it also expects the cost of the pending review from the Office of Fair Trading into the acquisition to be around 4.5 million.