Wed, Apr 22, 2009 | 15:02 BST
Retailer Game posts record financial profit and turnover
Retailer Game has posted record financial results for its fiscal year which ended January 31, 2009.
Reporting turnover gains of £1.97 billion (up 32 percent) and a profit of £126.2 million (up 68 percent), Game chairman Peter Lewis attributes the success to the chain’s international expansion and the acquisition of Gamestation.
“These were exceptional results for the Group with a 67% increase in profit before taxation and non-recurring costs to £126.2m (2008: £75.5m) and continue a consistent growth trend for our business,” he said. “The Group’s basic earnings per share before non-recurring costs in the last four years have increased by a compound annual average of over 44%.
“The principal drivers have been third generation formats with many products now having a wider demographic appeal, the further development of our specialist credentials, successful international expansion and the many benefits arising from our acquisition of Gamestation.”
Lewis also stated that current trading performance is “ahead of our expectations” which has the board confident for the year into January 2010.
More over on Edge.