Game lifts sales forecasts

A rare note of cheer emerged from the retail sector today after computer games retailer Game raised sales forecasts and delivered record profits.

Buoyed by the launch of Nintendo’s Wii Fit and Grand Theft Auto IV, the company said its products were being seen as a “more affordable alternative” to many other family leisure activities.

In the six months to the end of July, pre-tax profits jumped to £36.4m (€45.7m) from £2.7m (€3.4m), helped by its Gamestation acquisition last year and a like-for-like sales improvement of 22.2%.

For the full year, Game has raised its guidance for like-for-like sales growth to between 8% and 12%, from the 5% to 10% previously estimated.

The group has 415 Game branches and 235 Gamestation stores in Ireland and the UK, with a further 491 international outlets.