Retailer Game Digital today hailed a return to growth, piggy-backing on the stellar turnaround of Japanese gaming giant Nintendo.
While full-year sales fell by 2.4 per cent to £891m, Game said they had grown by 6.6 per cent in the six months to the end of July.
"After two years of declines, our core UK console market returned to growth in the second half of our financial year on the back of the launch of the Nintendo Switch," said Game chief executive Martyn Gibbs.
The firm said UK operations had been hit by a "challenging market", with game launches in the first half of the year labelled "weaker".
But during the 15 weeks since the firm's July year-end, Game said sales were up on the sturdy prior year comparatives. Such figures reflected "the benefits of Nintendo Switch, the recent launch of Xbox One X and a stronger performance from new game releases this year".
Whilst we remain mindful of the structural headwinds that remain in our core markets, we expect recent positive market dynamics to continue into our peak Christmas trading period.
Operations in Spain, Game's main jurisdiction outside the UK, continued to go from strength to strength. Adjusted earnings were up 22.5 per cent in euro terms, which translated to a 10.9 per cent increase once converted into sterling.
Game shares wobbled following this morning's announcement. They are currently 1.8 per cent lower at 39.4p per share.