29th Jan 2016 07:42
LONDON (Alliance News) - Rank Group PLC on Friday said its pretax profit and revenue rose in the first half thanks to good growth in its Grosvenor and Mecca brands and said it remains on track with its digital strategy and the opening of new-format bingo halls.
The FTSE 250 company, which owns the Grosvenor Casinos and Mecca Bingo chains, said its pretax profit for the half to the end of December rose to GBP42.7 million from GBP36.3 million.
Revenue improved to GBP374.2 million from GBP361.7 million in the half, with like-for-like revenue growing 5.0%. Revenue increased for the Grosvenor and Mecca brands, and the group said its digital platform migration is on track to go live by the end of the first quarter of 2016.
Rank has agreed contracts with new suppliers for its digital poker and sports book offerings and is planning the opening of two new format bingo clubs in the summer.
The group hiked its dividend payout to 1.80 pence from 1.60p.
"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," said Chief Executive Henry Birch.
By Sam Unsted; [email protected]; @SamUAtAlliance
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