THE RETAIL BULLETIN - The home of retail news
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Health & Beauty
General Merchandise
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Game profits up 20.3% despite challenging trading conditions

Game has seen its half year pre-tax profit rise by 20.3% to £14.8 million despite a “challenging” retail environment.


Game profits up 20.3% despite challenging trading conditions

Game has seen its half year pre-tax profit rise by 20.3% to £14.8 million despite a “challenging” retail environment.

Revenue was down 4.7% to £492.9 million in the six months to 26 January. On a like-for-like basis the company’s gross transaction value was broadly flat on the same period in the previous year.

Meanwhile, group adjusted EBITDA was up 21.7% to £25.8 million.

During the period, Game continued to make cost savings through its rent negotiation programme, store payroll efficiencies and other store, head office and distribution savings.

It also made further progress in repositioning the company and with “right sizing” its retail business in the UK.  

Martyn Gibbs, chief executive of Game, said:: "We are pleased with our performance in the first half delivering a 22% growth in adjusted EBITDA and a material improvement in cash and liquidity during the period.

“Our core retail businesses are facing a challenging retail environment that continues to evolve at pace, but we have set ourselves up well with our transformation programme and continued focus on costs and efficiencies.”

The company said it is contuing to focus on a strategy to move it from a seller of physical products to providing gaming experiences and services. 

Gibbs said: “We believe there will be ongoing economic uncertainty and market headwinds which are expected to affect the performance of the group in the near term, however we remain confident in the longer term growth prospects of the group.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News


Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy