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Game beats the gloom at £33m
Evening Standard 30 Sep 2008A rare area of boom on the High Street came today with Game Group, the seller of video games and consoles, which said first-half profits soared from £1.3 million to £33.4 million.
It then upped its forecasts for sales, margins and cost-savings in the more important second half, which includes Christmas.
The group. which took over its rival Gamestation last year, said it expects like-for-like sales growth of up to 12% and margins up by a full 1%.
Chairman Peter Lewis said families were buying and playing games when they could not afford other forms of entertainment.
He said demand for third-generation consoles like the Wii and PSP and their games continues to grow strongly.
"We look forward to Christmas and remain confident on the outlook for the group," he said.
Reader views (1)
See? Playing games is good for the economy. Shame that Gordon and Darling are not very good players.
- Nobby Clark, Perth, Scotland, 30/09/2008 11:39
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