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Game beats the gloom at £33m
30.09.08
A 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.
