Game's profits triple

High street retailer Game has had a good year, bolstered by the "buoyant Christmas trading period." The company intends to further expand its empire over the coming 12 months by opening a total of 80 new stores, primarily in France, Spain, and Australia.

During its 2006 financial year, which ended on 31 January 2007, Game recorded international profits of £6.1 million (approx $12.2 million), more than three times higher than the £1.8 million ($3.6 million) in the previous fiscal period.

Sales were also up, to £801 million ($1.6 billion), compared to £645 million ($1.3 billion) the previous year, and like-for-like sales were up to £16.2 million ($32.4 million) from £4.2 million ($8.4 million). Basic earnings per share jumped to 6.25p (13 cents) from 0.81p (1.6 cents).

The Game Group now operates a total of 817 stores worldwide--including franchises--117 of which have opened in the last 12 months, and many in new territories such as Australia, Norway, and Portugal. The company also intends to expand its online presence in the future.

Game's chairman, Peter Lewis, commented on the company's outlook, "We have seen a strong start to the year in what is traditionally a quiet sales period for Game, thanks to the PS3 launch, and hope to continue to build on our success throughout the year."