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Game Group profits dive

Like for like sales down by 16.3 per cent for the six months ended 31 July 2009 as lack of major software launches hit turnover.

CITY & CORPORATE

Game Group profits dive

Like for like sales down by 16.3 per cent for the six months ended 31 July 2009 as lack of major software launches hit turnover.

Profit for the six months to July was £10.8m against £32.8 in the same period last year.Like-for-like sales slumped by 16.3 per cent with total sales down 7 per cent.Total sales in the 33 weeks ended 19 September 2009 were down 8.8 per cent and like for like sales down 16.6 per cent.

Peter Lewis, Chairman, said 'The retail environment continues to be tough. In uncertain times, our brand loyalty and our unique specialist proposition have never been more important. This, combined with our strict cost disciplines, the record console installed base and strong software line-up, means we remain optimistic for the key Christmas selling period.'

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