Posted by: Ted Menmuir October 14, 2016 in Featured News, Latest News, Retail, UK Comments Off on Rank Group reports flat revenues as governance reaffirms full-year expectations
Issuing an ‘Interim Management Statement’, FTSE-listed UK gambling operator Rank Group Plc (Rank) has reported that it expects to post ‘flat revenues’ revenues for its trading update for the 15-week period to 9 October.
Ahead of its Annual General Meeting, Rank the operator of Grosvenor Casinos and Mecca Bingo halls reiterates its full-year target expectations.
Publishing a brief trading update, Rank governance states that group like-for-like revenues during the period have grown 1%.
Issuing brief trading insights, Rank governance detailed that Grosvenor Casinos’ venue like-for-like revenue declined by 1%, principally driven by a lower than average margin and lower customer visits. Mecca venue like-for-like revenue was flat during the 15-week period.
Grosvenor Casinos’ digital channel continued to grow strongly, with revenue up 30% in the period. However, its Mecca digital division revenue fell by 4% in the period, Rank governance would detail that trends Mecca digital trends in recent weeks have been encouraging countering the divisions revenue downturn.
Rank Group will aim to release its half-year results on 26 January 2017, closing its interim management statement, Rank governance stated that ‘expectations for the full year remained unchanged’.
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