Press releases
THE GAME GROUP PLC - Preliminary results for the year ended 31 January 2004
27/04/2004
THE GAME GROUP PLC, Europe’s leading retailer of computer and video games software, today announces preliminary full year results for the 52 weeks ended 31 January 2004 (comparatives are for the 53 weeks ended 31 January 2003).
HIGHLIGHTS
- Group turnover up by 8.3% to £606.7m (£560.1m)
- Like for like sales in the year increased by 2%
- Profit before tax, goodwill amortisation and exceptional charges increased for the fourth consecutive year, up 4.5% to £34.7m (£33.2m)
- EPS before goodwill and exceptional charges increased by 10.5% to 6.63p (6.00p)
- Dividend doubled to 2p for the year
- £16.5m returned to shareholders through share buyback programme
- Gross margin improvement from 28.1% to 28.8%
- GAME continues to outperform the market
- Services agreement with Electronics Boutique Inc (EBI) terminated early for a one off payment of £8.3m which the Board considers will be earnings enhancing
- 42 stores opened in the year with increased store opening plan for 2004
Peter Lewis, Chairman, commented:
“This was the fourth consecutive year of profit growth achieved in even more difficult market conditions. We are confident of making further progress this year and are even more confident of the medium to long term market outlook. As a result your Board is recommending a doubling of the dividend.”
For further information please contact:
| Martin Long, Group Chief Executive | ||
| Lisa Morgan, Deputy Chief Executive | ||
| The GAME Group | Tel: 01344 464085 | |
| Nic Bennett/Ben Foster/Charlie Armitstead | ||
| Financial Dynamics | Tel: 020 7831 3113 | |
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