Game surges after record profits

Computer games retailer Game posted record profits today as it said an “unprecedented range of popular products” had boosted prospects.

Shares in the company jumped 8% after it revealed the haul of £75.5m (€96.2) for the year to January 31 – an increase of 156% on last time – and said like-for-like sales were up by 20% in the past 13 weeks.

With supply improving on the Nintendo Wii, Game said the short and medium term outlook for the industry looked bright.

Chairman Peter Lewis said: “The unprecedented range of popular products has broadened the demographic appeal to new customers of all generations.”

Game said 100 store openings were planned for this year, with a major focus on France, Spain and Australia. It recently bolstered its UK portfolio with the takeover of rival Gamestation.