Published
Financial

Rank Group pre-tax profit up 15% in “solid” year

The

RankGroup
Rank Group has posted a “solid set of results” for the 12 months to 30 June 2016, according to CEO Henry Birch, reporting pre-tax profit after exceptional items of £85.5m, a year-on-year increase of 15%.

Group revenue rose 2% to £753m, as did EBITDA before exceptional items, up to £128.2m from £126.3m.

Total digital revenue growth for the period stands at 11%.

Revenue for Mecca Bingo contracted to £287.7m from £289.6m, although Rank’s revenue from its Grosvenor Casinos rose to £438.6m from £423.4m.

Group operating profit before exceptional items fell 2%, to £82.4m, attributed by Rank to higher digital operating costs and a weak Q4 in its Grosvenor venues.

Henry Birch, Rank CEO, said: “This year we have focused on delivering significant projects to ensure we have the right platform in place for future growth.

“This included the migration of our digital business onto a new platform, the rollout of an improved retail casino management system and investments into new generation machines in both our casino and bingo venues.

“At the same time we have delivered a substantial increase in the dividend to our shareholders.

“Rank remains in a strong financial position, possesses market-leading brands and has a clear strategy for long-term growth.

“The board continues to look to the future with confidence.”

Rank, along with 888 Holdings, pulled out of a joint bid to acquire William Hill on Friday last week.

Henry Birch told Reuters: “The company has been looking at M&A for the last 18 months and continues to do so, and there is definitely a focus on the digital arena for that.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Relax Gaming
Gaming and Leisure Properties
Passport Technology
PrizePicks
Follow Us

Facing Facts: Analysing figures from emerging gambling markets

Where is the gambling market on the rise, and are there any...

Taking Stock: A guide to lottery/iLottery operator and supplier prices

Gambling Insider tracks lottery/iLottery operator and suppli...

New Horizons Cover Feature: United Arab Emirates

With its first land-based casino set to open in 2027 and a n...

New Horizons Cover Feature: Brazil

Brazil performed quite the feat by getting its heavily delay...

The best of Malta at the Global Gaming Awards

Powered by Gambling Insider, the Global Gaming Awards are th...

Preview: SiGMA Malta 2024

A place in the winter sun: SiGMA returns to the home of iGa...

Company profile: Soft2Bet

Bill 55: Advantages and challenges for Maltese operators in...

Company profile: DS Virtual Gaming

DS Virtual Gaming is a leader in the gaming industry, utilis...