Game Group chief steps down as profits tumble

THE boss of video games retailer Game Group has stepped down following a 28 per cent plunge in profits at the group.

Lisa Morgan will be replaced by Chris Bell – the former boss of Ladbrokes – as interim chief executive, the company said.

The firm's UK chief operating officer Terry Scicluna will also be leaving.

The changes were announced as the company’s annual figures showed that pre-tax profits for last year were £84.2m, down from the £117.4m reported 12 months ago.

Game blamed the fall in video game sales across the industry for its lower profits.

Chairman Peter Lewis said: “The Group has delivered the second best trading performance in its history with profit before taxation.

“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 per cent.”

Game has 700 stores in the UK, with 800 outlets across the rest of Europe and Australia.