Game Digital finds new image as sales rise

 
The accounts will take a hit from the £8 million spent bringing the company to the stock market
PA
Simon Neville14 August 2014

The newly listed Game Digital has finally shed its previous company image which saw the old company go bust, its chief executive claimed.

Martyn Gibbs, who led the reincarnated company through its recent listing, said: “Around 12 months ago it was an issue but now it isn’t. The experiences customers are having with us and the transformation are really positive.

"From an investor point of view I've been delighted with the interaction with the businesses that have invested with us. They get it."

His comments come as Game Digital revealed a 30% jump in sales in the 12 months to July 26, with profits expected to hit expectations of around £43.7 million.

He added that a major overhaul of stores was going well and a new loyalty programme was wooing high spending “elite” gamers.

He said: “Elite gamers – people who are playing games every day – is a big category for us, because they can resell products and they will accumulate loyalty points so it works out cheaper [than online].”

Attention has now turned to deals struck with Microsoft and Sony to offer exclusive content to customers and bridge the gap by selling digital only games in stores for the first time.

Full year results are published in October and the accounts will take a hit from the £8 million spent bringing the company to the stock market.

Shares were down 2p at 240p – 20% about its flotation price.

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