ShopTo profits rocket 254%

Online indie ShopTo.net has seen its profit leap 254 per cent for the six months ending January 31st.

The company says it has ‘defied’ the slowdown seen in games by posting record results. Its market share in hardware also leapt during the period, with sales of consoles accounting for 8m of the retailer’s turnover.

ShopTo told MCV it has also seen ‘extremely’ strong pre-orders for Sony’s upcoming PlayStation Vita.

Despite the recent news about video games retailers suffering in the current economic climate, we have been delighted with these recent trading figures and strong balance sheet,” said ShopTo CEO Igor Cipolletta.

This is our fifth consecutive profitable year and an important milestone for ShopTo. We’re expanding at an impressive rate with new innovations to ensure that our customers receive the best value and service in entertainment retail.

We are committed to increasing our market share on next generation consoles by offering the best value bundles. PS Vita pre-orders were phenomenal in January.”