Game Group Maintains Dividend on Cash Generation, CEO Says
Game Group Plc (GMG) maintained its dividend because “this is still a very cash-generative business,” Chief Executive Officer Ian Shepherd said.
Analysts including Nick Batram and John Stevenson of Peel Hunt had been predicting Game would reduce its dividend to conserve cash. First-half sales were 558.8 million pounds, compared with an analysts’ consensus estimate of 568.5 million pounds.
Game Group anticipates “low, single-digit positive” sales increase at stores open at least a year for the rest of the fiscal year, allowing it to make its full-year estimates of unchanged or a drop of three percent same-store sales, Shepherd said.
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