Rank Group 54 percent increase in revenues
Thursday May 15,2014 : DIGITAL PERFORMS WELL FOR RANK'S GROSVENOR CASINOS
Latest IMS shows a 54 percent increase in revenues.
The Rank Group plc's interim management statement for the 19 and 45 weeks to 11 May 2014 shows major improvements in digital performance in the Grosvenor Casinos division, with revenues up 54 percent and 42 percent respectively in the 19- and 45-week periods.
Digital performance in the bingo environment at Mecca did not achieve similar success, declining 8 percent in the 19-week period and 5 percent year to date.
On a group basis, Rank management announced that for the 19 weeks to 11 May 2014 revenues grew by 19 percent, with like-for-like revenues down 1 percent. For the 45-week period total revenues increased 17 percent, but like-for-like revenues were down 4 percent "….as a result of the challenging and highly competitive trading environment."
Henry Birch, chief executive of The Rank Group Plc, commented:
"I am pleased to report that since H1 the group's performance has shown an improvement in both total and like-for-like revenues. The investment in our Grosvenor Casinos venues and our continuing focus on providing value for money in our Mecca venues are helping deliver this improvement."
The board anticipates operating profit for the full year to 30 June 2014 to be line with management's expectations.