3rd May 2007 07:01
Rank Group PLC03 May 2007 3 May 2007 Rank Group Plc AGM trading statement for 16 weeks to 22 April 2007 Summary The Rank Group has made a solid start to its first year as a focused gamingbusiness with like-for-like revenue up 3% for the first 16 weeks. This reflectslike-for-like revenue growth at Grosvenor Casinos, Top Rank Espana and BlueSquare and a modest decline at Mecca Bingo, against the comparable period in2006. This revenue performance, together with the cost-saving initiativesannounced in September last year, has led to an increase in group profits in theyear to date. Revenue Like-for-like Total (adjusted for club openings, disposals & closures)Mecca Bingo (1)% (4)%Top Rank Espana 2% 2%Grosvenor Casinos 3% (1)%Blue Square 40% 40%Total Group 3% 0% Mecca BingoMecca Bingo like-for-like revenue was 1% lower than in the same period in 2006,with spend per head increasing by 6% and admissions declining by 7%. In England and Wales, Mecca Bingo's like-for-like clubs generated 1% growth inrevenue with increases in spend per head off-setting lower admissions. Thispattern was due in part to our decisions both to reduce free bingo and to notreplicate a number of frequency-based promotions (operated in the comparableperiod in 2006), which resulted in a decline in low-spend admissions. On 26 March 2007 we passed the anniversary of the Scottish ban on smoking inenclosed public places. For the first 12 months of the smoking ban, revenue fromour Mecca Bingo clubs in Scotland declined by 17% on a like-for-like basis, withadmissions down 10% and spend per head down 7%. During the winter months spendper head recovered to near pre-ban levels but admissions were affectedadversely. In April 2007, we opened at Mecca Bingo in Dundee our first sheltered outdoorgaming area. We are seeking to extend this type of amenity across a large numberof our Mecca Bingo clubs. Top Rank EspanaA slight increase in revenue from Top Rank Espana, our Spanish bingo business,demonstrated progress in overcoming the effects of the partial smoking ban thatwas phased in during 2006. Grosvenor CasinosGrosvenor Casinos grew revenue by 3% on a like-for-like basis, with admissionsdown by 6% and spend per head increasing by 10%. These figures in part reflectour decision to end the frequency-based promotions that were a feature in thefirst-quarter of 2006. We remain pleased with the growth in new members and theunderlying admissions performance. In March 2007, Grosvenor was granted a licence to operate a casino inSouthend-on-Sea, Essex. We have now been granted nine new casino licences intotal. Blue SquareBlue Square, our interactive gaming and betting business, continued itsexcellent recent progress, growing revenue by 40% in the period. Thisperformance was driven primarily by online gaming products, with meccabingo.comperforming particularly well. Sportsbook also enjoyed a buoyant start to theyear. Ends Photographs of the Rank Group are available from www.newscast.co.uk and fromwww.rank.com Contact Rank Group PlcDan Waugh, director of investor relations +44(0) 1628 504053 M: CommunicationsNick Fox/Lisa Gordon +44(0) 207 153 1540 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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