GAME's year-end profits up thanks to DS and Wii |
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UK-based video game retailer GAME will be laughing all the way to the bank these days, as it reports higher-than-expected profits for this year. Company CEO Lisa Morgan explained that this was partly thanks to their Nintendo Wii and DS sales, which helped boost the company's overall sales by 44 percent for 2007.
GAME's pre-tax profit for this financial year ending January is further projected to be at around £ 70 million (US$ 139 million), about £ 8 million (US$ 16 million) higher than previously predicted by analysts. GAME's shares rose 6 per cent thanks to their earnings.
Titles sold were also related to their two top-selling systems and included games like Brain Training and Mario & Sonic at the Olympic Games. The company also reportedly benefited from strong sales of the Microsoft Xbox 360 and the recent price drop for the Sony PlayStation 3.
"We have increased our top-of-range £ 63.9 million (US$ 127 million) forecast to £ 73 million (US$ 145 million) driven by stronger revenue growth and unchanged margins and cost estimates," said Deutsche Bank analyst Warwick Okines regarding their new predictions in line with GAME's profits. Okines noted that the strong sales, topped with their recent acquisition of GameStation, made this GAME's "perfect month."
Via Times Online
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