Anybody in Game? Holding a lot of stock purchased at 66.5p p/s.
Any views greatly appreciated.

Game Group reports turnover down 10%
Business Financial Newswire


PC and video games retailer Game Group said group turnover fell 10% to 1.772bn in the year to end-January.

Group profit margin improved to 27.8% from 26.1% the prior year.

Profit before tax fell 28.2% to 84.2m, down from 117.4m, with basic earnings per share at 17.45p, down 27.8% from 24.18p. Annual dividend was hiked 5% to 5.78p (2009: 5.5p). Game Group said profit before tax and non-recurring items of 90.4m (2009: 124m) is the second best performance in its history.

The group increased preowned revenues to 374.5m (2009: 353.4m) representing over 21% of sales.

For the 11 weeks to 17th April 2010, total sales and lfl sales were down by 13.3% and 14.4%, respectively.

In the UK and Ireland, total sales and lfl sales were down by 20.8% and 20.1%, respectively, during the period.

In the International business, total sales were up by 1.7% and lfl sales on a constant currency basis were down by 3.9%.

Online was down by 3.5%.

Peter Lewis, Chairman, commented: 'The Group has delivered the second best trading performance in its history with profit before taxation and non-recurring costs of 90.4m (2009: 124m). Our results were delivered against the backdrop of a very difficult trading environment, which saw the global pc and video games market decline by over 20%. We outperformed the market and our performance can be attributed to our position as the market leading specialist, our strength in preowned, our multi-channel customer offer and disciplined operational management.

'Complementing our traditional store offer, we are today announcing the launch of a number of initiatives to strengthen our position in the growing ecommerce and digital markets.

'Whilst we remain mindful of the challenging market in which we operate, the forthcoming new technology further enhances the profile of the specialist retailer. This, together with our value driven offer to maintain a market leading position, investment in new channels to market, and our focus on cost reductions leads the Board to be confident in the Group's future prospects.'

Got out at 102 last week with a nice little profit. Worth a punt again, as soon as new CEO and CFO are found it will rise.

Back in at 86 come on Gamestop take them while vunerable with no CEO, or CFO

SP 92.3 in a dilemma now whether to take nice one day profit, or wait for bid.

Game now a raging takeover oppertunity

GMG will only be a takeover opportunity if its sp drops to 50p.


Game Group sales 11.4% lower
StockMarketWire.com

Video games retailer, Game Group reports further declining sales and says that Group revenues were down by 11.4% for the first 19 weeks to 12 June 2010.

Like -for -like Group sales for the same period were down by 12.3%.

In the UK and Ireland, total sales were down by 18.5% and like-for-like sales were down by 17.2%. In the International business, total sales were up by 1.2% and like-for-like sales were down by 4.6%.

Online business sales were up by 13.5%. Excluding the impact of the DSi launch in the prior period, Group like-for-like sales were down by 8.4%.

In the UK, online sales now account for 17.6% of total sales.

The Group says that it has strengthened the value proposition in stores and online and as a result expects full year gross margins to decrease by around 100 basis points year on year.

Looking forward, the Group says that new technology releases are unlikely to materially impact trading performance until next year, with year on year market revenue declines still expected in 2010.

The Board says that in 2010 it expects the Group to make losses in the first half and profits in the second half.

The Group net debt at 30 May 2010 was 78m (31 January 2010: net cash 45m).

hlyeo98 - 17 Jun 2010 09:29 - 69 of 69
GMG will only be a takeover opportunity if its sp drops to 50p

How do you arrive at that price, are you thinking of making a bid.

hly ... is right the figures speak for themselves, wishfull thinking will not alter a thing.

tipton

Time will only tell... with supermarkets offering better and more competitive deals, rampant downloads by the younger generation and lack of new ideas in gaming will see GMG down to 50p.

Support level is going to give way very soon at 78p.

I must admit to holding this one why I don't know. Think I missed selling it while babysitting Tabby, and Clinic

Great shorting for me... support broken... 50p on the way soon.

GMG making all the right moves.

I am out watch it rise now

Clubman, this will fall miserably. I thought you would buy more or even make a bid for it at every dip in GMG.

No I agree it's a dead duck now, without any bid things don't look good.

I would be surprised if they dropped as low as 50p, not impossible I suppose but imagine a t/o before then.
2517

Shorting GMG is a no-brainer.