Game Group (LON:GMG): Loss before tax £48.5m but interim dividend amazingly maintained
Game Group, the UK’s largest specialist videogame retailer has announced a loss before tax of £48.5m in the first half of 2011. The company sells video games and hardware direct from their 641 UK outlets and 678 International outlets, as well as their online presence.
Since the collapse of retailers such as Woolworths, Game has gained the distinction of being the only specific game retail chain in the UK, (GameStation being also part of Game Group). However, it seems selling videogames makes for tough living in a recession. Like most other game and DVD retailers, Game entered the “preowned and trade” market with enthusiasm, with customers able to bring in their old software and trade it for new, encouraging many customers by offering discounts on the latest titles. They have trumped similar businesses such as CEX by offering a higher return to customers by only…