Game boss resigns as profits fall

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The chief executive of video games retailer Game Group has stepped down following a 28% fall in profits at the group.Lisa Morgan will be replaced by Chris Bell - the former boss of Ladbrokes - as interim chief executive, Game said, as it announced its full-year results.

The firm's UK chief operating officer Terry Scicluna has also resigned.

Pre-tax profits for last year were £84.2m, down from the £117.4m reported 12 months ago.

Game blamed the wider fall in video game sales for its decline in profits.

It argued that it had delivered its second-best trading performance in its history, and had "outperformed the market".

"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%," said chairman Peter Lewis.

Previously, Game has also cited the absence of major new console launches as a problem.


However, revenues are expected to continue to fall this year despite expected new product launches from Microsoft, Sony and Nintendo.This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.