GAME reports year of increased revenue and profit

Rejuvenated retailer GAME has reported strong revenue and profit growth for the year ending July 26th.

Revenue was up 31 per cent to 861.8m year-on-year while gross profit jumped 20.5 per cent to 209.7m.

Operating profit reached 24.8m, up from last year’s 3.3m loss, while profit from continuing operations was 2.8m – an improvement over last year’s 15.6m loss.

It has gained market share in both the UK and Spain and attracted over 1m new customers to its Reward Card loyalty scheme throughout the period. Reward Card membership now stands at 16m.

The performance of the spin-off GAMETronics brand is described as strong”, while every vanilla GAME store has now been fitted with PS4 and Xbox One digital bays

MCV can also confirm that the chain is to begin selling Android games in its stores.

"GAME has delivered a strong performance in what has been a transformational year for the company, which included our successful IPO in June,” chairman David Hamid said. We are a dynamic and well-funded company with a strong platform from which to build and drive further growth and profitability."

CEO Martyn Gibbs added: "I am proud of the achievements of our teams in both the UK and Spain over the last 12 months. Their hard work has delivered a robust performance for 2014, but more importantly, it has placed the company on a sound footing to deliver success in future years. Our financial strength, together with the investments we have made, position us well to capitalise on the opportunities ahead.

Our gaming communities lie at the heart of our business and we remain focused on working closely with our supplier partners, innovating and investing in our offer, to ensure we consistently deliver the best interactive gaming experiences possible.

As we move into the key trading months of the year we are encouraged by the strength of the line-up of new physical and digital games being launched and are well positioned, with exclusives secured on many of the major pre-Christmas new game releases, great deals on both mint and pre-owned, increased supplier credit, and financing facilities in place in both the UK and Spain.”