16 weeks to 15 October 2017

RNS Number : 0115U

Rank Group PLC

19 October 2017

 

Trading statement               

The Rank Group Plc
LEI: 213800TXKD6XZWOFTE12

19 October 2017

At today's Annual General Meeting, The Rank Group Plc (LSE: RNK) (Rank or the Group) will announce the following trading update for the 16 weeks to 15 October 2017.

Rank today announces Group like-for-like revenue for the 16 weeks to 15 October 2017 has grown by 2%.  On a channel basis, venues revenue fell by 1% and digital revenue grew by 19%.

Grosvenor Casinos' venues like-for-like revenue was down 1% in the period driven by a lower than average win margin.  Mecca's venues like-for-like revenue was down 2%.

Both Grosvenor Casinos' and Mecca's digital channels grew strongly in the period, with revenue up 34% and 11% respectively.

Management's expectations for the full year remain unchanged.

Organisational update:
During the period, the Group commenced the creation of a single leadership team across its retail businesses with the appointment of Alan Morgan as retail managing director, covering both Mecca and Grosvenor Casinos.  The new structure will retain distinct operations for Mecca and Grosvenor, but will allow for improved synergies and additional capability in key functions and roles. 

Alan will be supported by a strengthened leadership team following the recent appointments of Debbie Husband as Grosvenor national operations director, who joins from Travelodge; Olly Raeburn as chief marketing officer, who joins from Ladbrokes Coral; and Darren Wainwright, as group property director, who joins from RNIB and Brighthouse.  Martin Pugh, currently managing director of Grosvenor Casinos, will leave the business at the end of the year, and the Board would like to thank him for his valuable contribution over the last three years and wish him the best for the future. 

Forthcoming announcements

Rank will announce its half year results on 1 February 2018.

Ends

Contacts:

Rank

Sarah Powell - investor relations             Tel: [phone]

Media Enquiries:

FTI Consulting (PR adviser to Rank)

Edward Bridges                                                Tel: [phone]

Alex Beagley                                                     Tel: [phone]

Notes to editors:

1.    Figures are not adjusted for customer incentives.

2.    Like-for-like excludes the effects of clubs openings, closures and relocations.

3.    All comparisons are with the same 16 week period in 2016.

 

END

 

 

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