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RankPlc interim management statement
Thursday October 16,2014 : RANK PLC REPORTS ON PAST FIFTEEN WEEKS
Few fireworks in latest IMS.
The UK listed online and land gambling group Rank plc issued a brief interim management statement for the 15 weeks to 12 October 2014 Thursday, reporting a 3 percent increase in like-for-like revenues over the period driven by the performance of the Grosvenor Casinos brand.
Total revenue increased by 2 percent, with the digital division delivering revenues up by 4 percent following a recent TV marketing campaign and a more competitive sign up bonus.
The Grosvenor Casinos brand reported revenue growth of 5 percent in the period, driven by a 2 percent increase in customer visits, a 3 percent hike in venues revenue and a significant 71 percent rise in digital revenue.
For the Mecca brand, like-for-like revenue grew by 1 percent, with total brand revenue flat year-on-year.
Henry Birch, chief executive, said:
"The group has had a good start to the financial year and I am pleased with the improvements seen in our Grosvenor Casinos brand, particularly in its digital channel, and the actions to strengthen the performance of our Mecca brand are showing some positive signs."
"We continue to work on our strategic priorities outlined in our 2014 preliminary results announcement and expect to provide a more detailed update at our forthcoming interims in January 2015."
Birch added that his group's performance in the period has been in line with management's expectations and the Board remains confident on prospects for the year.
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