Game Group, the British computer games retailer, announced today that the company had posted a 27% fall in its yearly profit for the recently ended fiscal.

The company also said that two of its most senior executives, including chief executive, decided to step down over the disappointing results.

However, the company also said that the board is confident enough for the coming fiscal. Game Group, which operates nearly 1400 outlets in nine European countries and Australia, released its annual results today.

The company reported pretax profit of £84.2 million for the year ended January 31, decreasing by 28% while it was reported of £117.4 million in the previous corresponding year.

The underlying pretax profit for the fiscal was reported of £90.4 million, decreasing by 27% comparing to £124 million in the previous year.

The underlying profit was reported in line with the expectations of the market analysts as they were expecting underlying profit of £87.5 million for the period.

The revenue of the group for the year was reported of £1.77 billion, decreasing by 10% while the revenue was posted of £1.97 billion in the previous corresponding year.

Game Group also announced that two of its most senior executives decided to quit as the profit of the company fell in the fiscal. The company said that chief executive Lisa Morgan and UK chief operating officer Terry Scicluna resigned from the board.