Games Group, with a third of the UK computer gaming market, reports pre-tax profits rose to £33.4m in the first half, up from £1.3m.

The integration of Gamestation, purchased in UK last year, is going better than expected and could lead to £9m of synergies this year and £14m next year. CEO Lisa Morgan says the group is now pursuing growth overseas (especially Spain, Australia, and France) and in online operations. The company purchased JRC, the biggest group in the Czech games market, for £3.95m in August. The online operation grew about 80% year-on-year, now about 5% of total revenue. In UK, the popularity of Grand Theft Auto and Wii Fit boosted revenues 54% to £743.4m.

Like-for-like sales in first half rose 22%. This year’s like-for-like sales could grow 8-12% this year, compared with previous guidance of 5-10%. Gross margins could improve by 80-110 basis points, compared with earlier estimate of 50-100bp.

Maybe Wall Street should be run by gamers instead of gamblers.

Go Games Group is Wii Fit

The company operates 649 stores throughout UK and Ireland, 208 in Iberia, 170 in France, 62 in Scandinavia, and 51 in Australia.

In May 2007, the Company acquired Games Station Limited (Gamestation), from Blockbuster UK Limited.

With more than 20,000 registered JRC Club members, JRC Gaming is the Czech Republic’s largest gaming retailer with more than 20 retail game shops (with another 4 in Slovak Republic).