Rank Group PLC Interim Management Statement (3101C)
October 15 2015 - 2:00AM
UK Regulatory
TIDMRNK
RNS Number : 3101C
Rank Group PLC
15 October 2015
15 October 2015
The Rank Group Plc ("Rank" or the "Group")
Interim management statement for the 15 weeks to 11 October
2015
(all comparisons are with the equivalent periods in 2014)
Today Rank announces a 8% increase in like-for-like revenues for
the 15-week period to 11 October 2015. Total revenues increased by
7%.
Group and brand revenue to 11 October 2015*
-------------------------------------------------
Total Like-for-like**
--------------------- ------- -----------------
Grosvenor Casinos 12% 12%
--------------------- ------- -----------------
Mecca 1% 3%
--------------------- ------- -----------------
Group*** 7% 8%
--------------------- ------- -----------------
* Figures not adjusted for free bets, promotions and customer bonuses.
** 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:
"The Group has had a good start to the financial year. We are
seeing a continued strong performance from our Grosvenor Casinos
brand, particularly in its digital channel and London casinos, as
well as an improving admissions trend in our Mecca venues combined
with good growth in Mecca's digital business."
"We continue to work on our five strategic priorities,
particularly the development of our new digital platform which is
on track to be launched in calendar Q1 2016 and we will provide a
more detailed update at our forthcoming interim results in January
2016."
Grosvenor Casinos
Brand revenue to 11 October 2015
--------------------------------------------------
Total Like-for-like
-------------------------- ------ --------------
Venues - Customer visits 1% 1%
-------------------------- ------ --------------
Venues - Spend per visit 9% 9%
-------------------------- ------ --------------
Venues revenue 9% 10%
-------------------------- ------ --------------
Digital revenue 56% 56%
-------------------------- ------ --------------
Total revenue 12% 12%
-------------------------- ------ --------------
Venues revenue growth has been driven by a combination of
increased admissions, staking levels and an improved win
margin.
London has seen strong growth in revenue, up 19% compared to 6%
in the provinces. VIP activity in London has helped drive a strong
win margin in the period, up by over two percentage points on last
year's equivalent win margin. We are pleased to see good growth in
our provincial clubs, with increased staking levels and good slots
growth driving a 6% increase in revenue.
Grosvenor digital revenues increased 56% in the period driven by
improvements in VIP management, continued growth in our customer
base following cross-sell from our venues and strong growth from
our mobile products.
Mecca
Brand revenue to 11 October 2015
--------------------------------------------------
Total Like-for-like
-------------------------- ------ --------------
Venues - Customer visits (5)% (1)%
-------------------------- ------ --------------
Venues - Spend per visit 3% 3%
-------------------------- ------ --------------
Venues revenue (2)% 2%
-------------------------- ------ --------------
Digital revenue 10% 10%
-------------------------- ------ --------------
Total revenue 1% 3%
-------------------------- ------ --------------
Venues like-for-like revenue grew by 2% with an increase in
spend per visit offset by a reduction in customer visits, although
the rate of decline in admissions has continued to slow (1% versus
the 3% seen for the whole of 2014/15). Total revenues fell by 2%
following the closure of a number of clubs in the last 12
months.
Digital revenues in the 15-week period rose by 10%, with mobile
accounting for over 50% of revenue in recent months.
Outlook
The Board is encouraged that all of the Group's businesses
continue to make progress in line with management's expectations
and it remains confident in the Group's prospects for the year.
Ends
Conference Call
A conference call for investors and analysts will be held at
8.00am (London time) on Thursday, 15 October 2015. Dial in
information follows below:
UK (free call): 0800 694 5707
USA (free call): 1 646 741 2120
International: +44 (0)1452 541 003
Passcode: 54482347
A replay of the conference call will be available from the Rank
Group's website (www.rank.com).
Contacts:
Rank Tel: +44 1628 504
Sarah Powell - investor relations 303
Media enquiries:
FTI Consulting LLP (PR adviser to Rank)
Edward Bridges Tel: +44 20 3727
Alex Beagley 1067
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 - 88 bingo clubs in Great Britain; online and mobile offering via meccabingo.com
-- Enracha - 9 bingo clubs in Spain; online offering via enracha.es
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 Plc, visit
www.rank.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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