Rank Group PLC Trading Statement (8761J)
April 05 2018 - 2:00AM
UK Regulatory
TIDMRNK
RNS Number : 8761J
Rank Group PLC
05 April 2018
5 April 2018
The Rank Group Plc
LEI: 213800TXKD6XZWOFTE12
Trading Statement
The Rank Group Plc (LSE: RNK) (Rank or the Group) announces the
following trading update for the 40 weeks to 1 April 2018.
Rank today announces Group* like-for-like revenue for the 13
weeks to 1 April 2018 has declined by 2%. On a divisional basis,
Mecca's venues revenue fell by 2%, Grosvenor's venues revenues fell
by 9% and UK digital revenue grew by 17%.
Like-for-like Like-for-like
revenue for the revenue for the
13 weeks to 1 40 weeks to 1
April 2018 April 2018
Mecca venues (2)% (2)%
----------------- -----------------
Grosvenor Casinos
venues (9)% (3)%
----------------- -----------------
UK digital 17% 17%
----------------- -----------------
Total Group* (2)% 0%
----------------- -----------------
Rank's digital business continues to trade strongly. Following
the Group's 2017/18 interim results statement, both UK venues
businesses have been impacted by weaker than expected visits which
have been compounded by two periods of cold weather. Grosvenor
Casinos' underperformance has also been exacerbated by a negative
contribution from its VIP players.
The Board is cautious about the UK consumer outlook and as a
result expects the Group's UK venues to continue to be impacted for
the remainder of the 2017/18 financial year and into 2018/19. As
highlighted in Rank's recent interim results statement, a number of
key operational actions have been identified and are being put into
place to improve Grosvenor's performance over the medium to long
term.
Taking all the above into consideration, management now expect
the Group's full year operating profit to be in the range of
GBP76m-GBP78m.
*including Enracha's performance
Forthcoming announcements
Rank will announce its preliminary results on 16 August
2018.
Ends
Market Abuse Regulation
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain. The person responsible for arranging the release
of this announcement on behalf of Rank is Clive Jennings, Group
Finance Director.
Contacts:
Rank
Sarah Powell - investor Tel: +44 1628
relations 504 303
Media Enquiries:
FTI Consulting LLP
(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 club openings, closures and relocations.
3. All comparisons are with the same period in 2016/17.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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