Game expects higher profits in 2008
Game Group Plc, the retailer of computer games and games consoles has said it expects full year profits for 2008 to be 74 million, slightly ahead of the 73 million it predicted in its 15 January update.
Video games give actors second chanceGame received unconditional clearance to acquire Gamestation in January of this year. Game said that it initially expected to generate pre-tax synergies, from the acquisition, of 7 million by April 2009. The company has said it now believes those synergies will be achieved before the end of 2008.
Game said that it had experienced "strong consumer demand" for its products in the new financial year. The company said that the range of products available to consumers and broadening consumer appeal would stimulate further growth.
In January Game said it expected only limited growth in like for like sales this year, however now the company has said that it believes it can achieve like for like growth of 5-10 per cent in 2008.
The company also said it expected its gross margin to improve by 50-100 basis points in 2008, as a result of the Gamestation acquisition and higher sales of software.
- 1 Banks may avoid worst of household debt pain
- 2 FAA proposes 3.8 million fine against American
- 3 Swaps spreads highlight credit stresses
- 4 Slower economy saps climate action
- 5 Besley says fighting inflation tough task
- 6 Poll shows leader swap would not save Labour
- 7 Weak sterling may not curb recession
|
- 1 RBS gets Chinese approval for Suzhou stake
- 2 Buyout group raises offer for Australia's Indophil
- 3 Nat Exp and Stagecoach on rail bid shortlist
- 4 Tolent posts fall in first-half pretax profit
- 5 HP results top Wall Street targets
- 6 Apple updates iPhone software to fix glitches
- 7 BAA set for break-up
|
|
