Rank Group response to budget

RNS Number : 0892O

Rank Group PLC

23 June 2010

 

23 June 2010 

Rank Group response to Budget statement 

The Rank Group Plc ('Rank' or the 'Group') has noted the changes to taxation contained within yesterday's Budget statement from HM Government.

The Group anticipates that the increase in the standard rate of VAT and changes to the National Insurance regime will result in a net cost increase of approximately £2.5 million from 2011. This represents Rank's initial assessment and management will seek ways to minimise the impact on earnings.

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Contact

The Rank Group

Dan Waugh, director of investor relations                                          [phone]

Financial Dynamics

Ben Foster/Marc Cohen                                                                     [phone]

 

About the Rank Group

Rank is a leading European gaming business, head-quartered in the UK and listed on the London Stock Exchange (RNK.L). The Group's principal activities are: the operation of bingo clubs and casinos in the UK with complementary on-line gaming and bookmaking services. For more information about The Rank Group, visit www.rank.com.

 

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