Game Group PLC Back in the Game

Following a slight rocky period, Game Group, the UK's biggest specialist computer games retailer, has announced it has been trading in line with its half-year expectations and it expects the Wii and PS3 releases later this year to boost second-half trading.

The company has issued a statement which said like-for-like group sales in the 22 weeks to July 1 were up 10.1% Europe-wide, with like-for-like sales for the same period in UK and Ireland having risen 10.7%.

This is good news for the company, following news of an 80% drop in profits earlier in the year which we reported on back in April - a drop attributed to the falling prices for older consoles and a shortage of new consoles.

"Looking forward, the planned launch of the Sony PS3 and the Nintendo Wii in the run-up to the key Christmas trading season will benefit our second half as will our Europe-wide store opening programme which is on track for 60 to 70 new stores this year", Game chairman Peter Lewis said in a statement. "This will bring our portfolio to nearly 800 stores."

"The Nintendo DS, Sony PSP and Microsoft Xbox 360 now represent 40% of our sales. The industry is going through a transition...although it is by no means through the transition,' he added.