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Annual Results

Rank Group lifts FY pretax profit

20 August 2015 07:36

Rank Group has lifted its FY pretax profit to £74.5m, from £14.4m. Revenue was £700.7m, from £678.5m. Total dividend was 5.6p a share, from 4.5p.

Key highlights:

- Operating profit up 16% with all brands in growth

- Group revenue up 4%, with like-for-like revenue for Grosvenor Casinos and Mecca up 8% and 2% respectively

- Strong digital growth with revenue up 21% and operating profit up 14% despite the introduction of Remote Gaming Duty ('RGD') from 1 December 2014

- Migration to new Bede digital platform underway with go-live planned for Q3 2015/16

- Robust balance sheet with cash flow from operations up 44% and net debt reduced by 61%

- Significant progress made towards our five strategic objectives

- Strong dividend growth with dividend per share of 5.60p, up 24% year-on-year

- Adjusted EPS up 18%.

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Related Company: RNK

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