Press releases
Record profits - unaudited preliminary results for the year ended 31 January 2003
30/04/2003
Highlights
- Pre-tax profit before goodwill amortisation up 26% to a record £33.1m (£26.3m)
- Operating profit, before goodwill amortisation and last year’s provision for re-branding, increased to a record £32.4m (£31.2m)
- Turnover up 23% to £560m (£454m)
- Basic earnings per share up 32% to 4.4 p (3.33p)
- Net cash at Bank of £37.4m
- Final dividend increased by 37.5% to 0.55p making a total for the year of 1.0p (0.8p)
Peter Lewis, Chairman, commented:-
"The strength of GAME’s position in its markets can be measured by this achievement of record sales, record profits and record cash in the bank of £37.4m in a difficult year for UK retailers. Our response to the intense competition during Christmas 2002 was successful in maintaining our clear market leadership whilst delivering record profits. The current year has begun well with further gains in market share”.
For further information please contact:
John Steinbrecher, Chief Executive
Martin Long, Chief Executive Designate & Chief Financial Officer
Lisa Morgan, Deputy Chief Executive Designate
The GAME Group Tel: 01344 464515
Nic Bennett/Ben Foster/Charlie Armitstead
Financial Dynamics Tel: 020 7831 3113
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