Game Group has reported a profit of £14.5 million for the six months ended July 31, 2009.
Total sales were down seven per cent to £690.8 million, while like-for-like sales declined by 16.3 per cent.
The company cited sales of pre-owned games and online sales among its operational highlights. Sales of pre-owned games rose 12.3 per cent to £177.3 million, representing 25.7 per cent of overall sales, while online revenues were up 12.1 per cent.
"These were solid results for the group,” said Game chairman Peter Lewis. “We outperformed markets that showed year on year declines following last year's unprecedented sales of hardware and record breaking software launches.
“In the second half, the installed base of third generation consoles will continue to build. The recent manufacturer price reductions on the Microsoft Xbox 360 Elite and Sony's new model PlayStation 3 are helping to stimulate the market for hardware."
However, Lewis said that 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."
Since the beginning of the year the company’s reward card membership scheme has increased by over one million members to top 13.3 million.