Game Reports Record Sales

Officials from video game retailer Game have announced the company’s financial results for the full year ended January 31. During this period the company broke the half billion pound turnover mark for the first time, with overall group turnover up 8.3% to £606.7 million (£1.1bn). Pre-tax profits were up 4.5% to £34.7 million ($62.2m), with gross margins increasing from 28.1% last year to 28.8% in the stated period. The company opened forty-two stores during the financial year and is seeking to increase expansion in the next year, with moves into new European territories and as many as fifty new stores planned for the UK, bringing the total to over four hundred by Christmas 2004. Despite this positive news though company representatives warned that sales in the 2004 financial year have so far been slow, as illustrated by the currently moribund UK sales charts. Source: gamesindustry.biz