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Trading statements

Rank Group sees FY performance in line

12 May 2016 09:28

Rank Group's directors are encouraged that all its brands have continued to make like-for-like progress and expect the FY 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," the company said in a statement.

In the 19 weeks to May 8, total like-for-like revenue was up 3%, with total revenue up 2%. Grosvenor Casinos saw LFL revenue up 4% and total revenue ahead 3%. For Mecca, these figures were 1% and -1% respectively.

CEO Henry Birch 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."

At 9:28am: (LON:RNK) Rank Group The PLC share price was +8.7p at 246.1p

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Related Company: RNK

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