Computer games retailer Game, today bounced back from its gloomy start to the Christmas trading season to promise another record year for profits.
The Bracknell-based group suffered a shares backlash in the middle of December, after warning that like-for-like sales had slid 4.7 per cent at the start of the month.
But a late buying spree by shoppers ensured Game finished the crucial five week period to last Saturday, with comparable sales growth of 3.8 per cent.
That has left Game on course to beat last year's record underlying profits figure of £31.5 million during the 12 months to January 31.
It is now expecting to be "slightly ahead" of its 2001 performance, although it is still far short of the £10 million improvement pencilled in by City analysts prior to December's gloomy trading update.
Last month's profits warning sent Game shares 50 per cent lower.
But the popularity of games such as Grand Theft Auto: Vice City and the recently launched The Getaway, helped drive the sales revival.
Game, which runs 305 shops in the UK and Ireland and 32 concessions in department stores, said like-for-like sales growth of 12.2 per cent for the whole year compared favourably with rival firms.
Yesterday it emerged that annual UK sales of computer games and consoles broke the £2 billion barrier for the first time after the market achieved eight per cent growth.
The Entertainment and Leisure Software Publishers Association said the biggest rise was in games for consoles such as Nintendo's GameCube and Microsoft's Xbox.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article