Retailer Game has posted record results for the financial year ended January 31, 2009, reporting gains in both turnover and profit.
Group turnover hit £1.97bn, up 32 percent on last year, while profit totalled £126.2m, up 68 percent.
“These were exceptional results for the Group with a 67% increase in profit before taxation and non-recurring costs to £126.2m (2008: £75.5m) and continue a consistent growth trend for our business,” said Game chairman Peter Lewis.
“The Group’s basic earnings per share before non-recurring costs in the last four years have increased by a compound annual average of over 44%. The principal drivers have been third generation formats with many products now having a wider demographic appeal, the further development of our specialist credentials, successful international expansion and the many benefits arising from our acquisition of Gamestation.
“Current trading performance is ahead of our expectations and this is particularly pleasing when set against the double digit growth achieved last year. Year to date margin has also improved, up 150 basis points as a result of higher margin products within the sales mix. The board is confident in the outlook for the year to 31 January 2010.”