Rank Group pleased with half year results

In its Half Year 2016 financial report, London-listed Rank Group said it was pleased with the company’s progress over the six month period ending December 31, 2015, highlighting strong growth in digital revenues which were up 14 percent.

Other key highlights included 5 percent growth in group revenue to GBP374.2 million and an increase of 11 percent in group profit of GBP 46.1 million, which excludes remote gaming duties (RGD).

Ranks Grosvenor Casinos business delivered a 7 percent increase as Mecca’s retail bingo business reported a 2 percent growth in revenue on a like-for-like basis.

“I am very pleased to announce a good set of results with like-for-like revenue growth across all brands and channels,” Henry Birch, chief executive of The Rank Group Plc said. “Even with the impact of RGD we have delivered growth in both adjusted EPS, up 4%, and dividend, up 13%.”

“2016 will see us deliver significant new platforms, new functionality and new products – including a new digital platform, a new retail casino management system, new poker and sports betting products and a new retail bingo format – all of which will drive improvements across our company.

“It is extremely encouraging that ahead of these changes, we are continuing to grow all parts of our business. In particular, it is very pleasing to have grown Mecca’s retail bingo business, on a like-for-like basis, both at the top and bottom line, giving us renewed confidence in its future.”

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