GAME First Half Sales Up 54%

Posted on Jul 4, 2008 at 1:00 AM Comments:0

ImageFor the first 22 weeks to June 28, 2008, total group sales were up 54 percent, while like-for-like sales (including Gamestation from May 1, 2008) were up 24.8 percent.

 

The company said that sales were driven by “ongoing demand for all hardware formats and an increased demand for software” thanks to “an unusually strong release schedule” including Grand Theft Auto IV, Wii Fit, Mario Kart Wii and Metal Gear Solid 4. 

 

“The PC and video games market has continued to grow strongly in this period and I am pleased to report that GAME is performing slightly ahead of our expectations for the first half of the year,” said group chairman Peter Lewis ahead of the company’s annual general meeting on Thursday.

 

In the UK and Ireland, total sales and like-for-like sales were up 58.2 percent and 28.1 percent respectively. International sales and like-for-like sales rose by 43.9 percent and 16.9 percent during the same 22 week period.

 

According to Lewis, the international business is performing “strongly albeit… slightly lower than the UK and Ireland primarily due to insufficient supply of Nintendo product, particularly in Spain”.

 

The company expects to report pre-tax profit of no less than £33m for the six months to July 31.

 

It also said that the integration of former rival Gamestation was running smoothly, and that it expects Gamestation to generate cost and revenue synergies of around £7m during the current financial year.

 

GAME revealed that it plans to add a further 60 stores to its existing portfolio of 1,229 branches, most of which will be opened in international regions, and that it will continue to buy-in or close existing franchises. To that end, on Thursday the company completed the purchase of five of the remaining seven French franchise stores for a cost of €1.8m (£1.43m).

 

Dennis Woodside, formerly managing director of Google UK, Ireland and Benelux, has also appointed to the GAME board as a non executive director.

Tags:

  • My Favorites
  • Print Article
  • E-mail
  • Comment
Share URL:

Hot News

See All

New Game Releases

See All Rss

Upcoming Games

See All Rss