TIDMRNK
RNS Number : 9893X
Rank Group PLC
12 May 2016
News release
12 May 2016
The Rank Group Plc
("Rank" or the "Group")
Interim Management Statement for the 19 weeks to 8 May 2016
(all comparisons are with the equivalent periods in 2015)
Rank today announces like-for-like revenue for the 19 weeks to 8
May 2016 has grown by 3%, with total revenue up 2% and digital
revenue up 6%.
Group and brand revenue for the 19 weeks
to 8 May 2016*
----------------------------------------------
Like-for-like** Total
-------------------- ---------------- ------
Grosvenor Casinos 4% 3%
-------------------- ---------------- ------
Mecca 1% (1)%
-------------------- ---------------- ------
Total *** 3% 2%
-------------------- ---------------- ------
*Figures not adjusted for customer incentives.
**Like-for-like excludes the effects of clubs openings, closures
and relocations.
***Includes contribution from Enracha.
Henry Birch, chief executive of The Rank Group Plc,
commented:
"I am pleased with the Group's performance during this 19-week
period. We have seen continued like-for-like revenue growth across
all of our brands and the performance in our Grosvenor digital
business has been particularly encouraging."
"During the period we launched our new digital platform which
was delivered both on time and on budget. This is an important
development for the Group and we look forward to the benefits the
increased functionality will bring."
Grosvenor Casinos
19 weeks to 8 May 2016
------------------- -------------------------
Like-for-like Total
------------------- ----------------- ------
Venues - Customer
visits 0% (2)%
------------------- ----------------- ------
Venues - Spend
per visit 2% 3%
------------------- ----------------- ------
Venues revenue 2% 1%
------------------- ----------------- ------
Digital revenue 35% 35%
------------------- ----------------- ------
Total brand
revenue 4% 3%
------------------- ----------------- ------
In the 19-week period, like-for-like brand revenue grew by 4%;
total revenue was up 3%.
Venues like-for-like revenue grew by 2%, principally driven by a
solid London performance. Customer visits were stable and spend per
visit increased by 2%.
Grosvenor's digital channel continued to deliver strong growth
in the 19-week period with revenues up 35% driven by on-going
customer growth and improved functionality from the new digital
platform.
Mecca
19 weeks to 8 May 2016
--------------------- -------------------------
Like-for-like Total
--------------------- ----------------- ------
Venues - Customer
visits (1)% (4)%
--------------------- ----------------- ------
Venues - Spend
per visit 3% 3%
--------------------- ----------------- ------
Venues revenue 3% 0%
--------------------- ----------------- ------
Digital revenue (5)% (5)%
--------------------- ----------------- ------
Total brand revenue 1% (1)%
--------------------- ----------------- ------
Like-for-like revenue for Mecca increased by 1% in the 19-week
period, total revenue was down 1% reflecting the closure of venues
in 2015 as previously disclosed.
Venues like-for-like revenue continued to grow in the 19-week
period, up 3%, driven by the recent improvements in product and
service. Total venues revenue was flat. Like-for-like customer
visits were down 1% in the period.
Disruption following the recent platform migration led to a 5%
decrease in digital revenue in the 19-week period. New content and
functionality are now being rolled out, which management expects to
have a positive impact on performance.
Board
On 1 March 2016 Steven Esom joined the Rank board as a
non-executive director. Steven will chair Rank's remuneration
committee and serve on its audit and nominations committees.
Outlook
The Board is encouraged that all its brands have continued to
make like-for-like progress and expects the Group's full year
performance will be in line with management's expectations. Rank is
in a strong financial position, possesses market-leading brands
with multi-channel distribution and has a clear strategy for
sustained long-term growth.
Forthcoming announcements
Rank will announce its full year results on 18 August 2016.
Ends
Conference Call
A conference call for investors and analysts will be held at
9.00am (London time) on Thursday, 12 May 2016. Dial in information
follows below:
UK (free call): 0800 694 5707
USA (free call): 18 66 254 0808
International: +44 (0)1452 541003
Passcode: 95005086
A replay of the conference call will be available from the Rank
Group's website (www.rank.com).
Contacts:
Rank
Sarah Powell - investor relations Tel: +44 1628 504 303
Peel Hunt (corporate broker to Rank)
Dan Webster Tel: +44 20 7418 8869
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. About The Rank Group Plc
The Rank Group Plc is a leading European gaming and betting
business, based in the UK and listed on the London Stock Exchange
(RNK.L). Its principal activities are the operation of casinos and
bingo clubs with complementary digital gaming.
Rank's operations comprise:
-- Grosvenor Casinos - 56 casinos in Great Britain; two casinos
in Belgium; online and mobile offering via grosvenorcasinos.com
-- Mecca - 87 bingo clubs in Great Britain; online and mobile offering via meccabingo.com
-- Enracha - 9 bingo clubs in Spain
2. Enracha
Enracha's contribution has been included within the Total Group
numbers provided. Due to Enracha's small contribution to the Group
it has not been analysed out further.
For more information about The Rank Group, visit
www.rank.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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