Rank Group PLC 16 weeks to 15 October 2017 (0115U)
October 19 2017 - 2:00AM
UK Regulatory
TIDMRNK
RNS Number : 0115U
Rank Group PLC
19 October 2017
Trading statement
The Rank Group Plc
LEI: 213800TXKD6XZWOFTE12
19 October 2017
At today's Annual General Meeting, The Rank Group Plc (LSE: RNK)
(Rank or the Group) will announce the following trading update for
the 16 weeks to 15 October 2017.
Rank today announces Group like-for-like revenue for the 16
weeks to 15 October 2017 has grown by 2%. On a channel basis,
venues revenue fell by 1% and digital revenue grew by 19%.
Grosvenor Casinos' venues like-for-like revenue was down 1% in
the period driven by a lower than average win margin. Mecca's
venues like-for-like revenue was down 2%.
Both Grosvenor Casinos' and Mecca's digital channels grew
strongly in the period, with revenue up 34% and 11%
respectively.
Management's expectations for the full year remain
unchanged.
Organisational update:
During the period, the Group commenced the creation of a single
leadership team across its retail businesses with the appointment
of Alan Morgan as retail managing director, covering both Mecca and
Grosvenor Casinos. The new structure will retain distinct
operations for Mecca and Grosvenor, but will allow for improved
synergies and additional capability in key functions and roles.
Alan will be supported by a strengthened leadership team
following the recent appointments of Debbie Husband as Grosvenor
national operations director, who joins from Travelodge; Olly
Raeburn as chief marketing officer, who joins from Ladbrokes Coral;
and Darren Wainwright, as group property director, who joins from
RNIB and Brighthouse. Martin Pugh, currently managing director of
Grosvenor Casinos, will leave the business at the end of the year,
and the Board would like to thank him for his valuable contribution
over the last three years and wish him the best for the future.
Forthcoming announcements
Rank will announce its half year results on 1 February 2018.
Ends
Contacts:
Rank
Sarah Powell - investor relations Tel: +44 1628 504 303
Media Enquiries:
FTI Consulting (PR adviser to Rank)
Edward Bridges Tel: +44 20 3727 1067
Alex Beagley Tel: +44 20 3727 1045
Notes to editors:
1. Figures are not adjusted for customer incentives.
2. Like-for-like excludes the effects of clubs openings, closures and relocations.
3. All comparisons are with the same 16 week period in 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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