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Game plans expansion despite profits dip
RETAIL group Game today said half-year profits will be as much as 64 per cent lower after figures last year were boosted by blockbuster releases.
In an update on first half trading, Game said like-for-like sales in the 21 weeks to Saturday were down by 15.8 per cent in the UK.
It said this performance was in line with expectations after very strong sales in the comparative period a year ago, when sales were boosted by demand for games such as Mario Kart, Wii Fit and Grand Theft Auto IV.
The company expects profits for the half year of between 13 million and 16 million, compared with 36.4 million a year earlier.
However, it said it was looking forward to a "very encouraging" line-up of software releases in the second half, including Wii Fit Plus, DJ Hero and annual sequels to best-sellers such as Pro Evolution Soccer.
The company said it planned to open 50 to 60 additional stores before Christmas, mostly in its international business. It currently has 1,367 outlets, including 698 in the UK and Ireland.
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Thursday 24 May 2012
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