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Forums - Gaming - Game profits reach record level

http://www.google.com/hostednews/ukpress/article/ALeqM5gnHqsUsye0fcVICC4DVKLE5K_T9g

Game Group has announced record sales and profit figures after new products such as Nintendo's Wii Fit helped to broaden the appeal of gaming.

The Basingstoke-based firm, which trades from 690 stores in the UK through its Game and Gamestation brands, said an "unprecedented" range of products attracted new customers from all generations.

It reported a 32% rise in turnover to £1.97 billion, while profits were up almost 75% at £119.6 million in the 53 weeks to January 31.

It said trading was ahead of expectations in the new financial year, although a strong release schedule last year meant like-for-like sales were down 6.3% in the 11 weeks.

Game has also benefited from the collapse of rivals, with both Woolworths and Zavvi going into administration and withdrawing from the high street.

The market is now in its third generation of hardware, comprising three consoles - Sony PS3, Microsoft Xbox360 and the Nintendo Wii - as well as two handhelds - Sony PSP and Nintendo DS.

Game said the installed console base of 22.5 million in the UK market was achieved in just over three years, compared with eight years to reach 17 million for the previous generation of consoles.

Over the course of the year the release of titles such as Grand Theft Auto IV and Call of Duty: World at War attracted the traditional gamer, while interactive family products such as Wii Fit and Guitar Hero also performed well.

Chairman Peter Lewis said: "The unprecedented range of products has broadened the demographic appeal of gaming, attracting new customers from all generations."

Game shares opened 8% higher following Wednesday's figures



Being a cricket fan is much simpler and more fun
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saimcheeda said:
...

The market is now in its third generation of hardware, comprising three consoles - Sony PS3, Microsoft Xbox360 and the Nintendo Wii - as well as two handhelds - Sony PSP and Nintendo DS.

...

What? This is the seventh generation of consoles. Starting from the Playstation makes no sense, unless...

 



Soleron said:
saimcheeda said:
...

The market is now in its third generation of hardware, comprising three consoles - Sony PS3, Microsoft Xbox360 and the Nintendo Wii - as well as two handhelds - Sony PSP and Nintendo DS.

...

What? This is the seventh generation of consoles. Starting from the Playstation makes no sense, unless...

 

 

oh come on who cares!!!and people dont start fighting bcoz of this!!



Being a cricket fan is much simpler and more fun

That's great but not as rosey as it sounds because right now it's only gangbusters profits for game stores, Nintendo and Activision Blizzard. Everyone else is still struggling to make a few bucks.



 

zavvi was such an awesome shop.

in my town they own the games amrket since w ehave 2 games and a gamestation. both woolworths and zavvi have closed down oh well, those stores are the best anyways



 nintendo fanboy, but the good kind

proud soldier of nintopia

 

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Gamerace said:
That's great but not as rosey as it sounds because right now it's only gangbusters profits for game stores, Nintendo and Activision Blizzard. Everyone else is still struggling to make a few bucks.

Not only game stores but places connected to game stores.  Both VGChartz.com and Free Talk Live ( http://amazon.freetalklive.com ) have stores associated with Amazon.com.  Lots of folks buy videogames from both stores via Amazon.com referals and both get a lot of money from the sales.  So our very own VGChartz is helped because of the great sales.

 



 

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