Rank Group PLC
26 April 2001
THE RANK GROUP Plc
First Quarter Trading Statement
(to 1 April 2001)
Trading for the first quarter was satisfactory with results in line with our
expectations. Group profit before tax was substantially ahead of last year
reflecting the restructuring undertaken during 2000, and in particular the
disposals of Universal Studios Escape and the UK Holidays Division.
The Gaming Division again enjoyed strong results across all of its businesses.
We are seeking to accelerate our development plans and, as part of these, have
received approval for a licence for a new Hard Rock branded casino in
Manchester.
Hard Rock had satisfactory results. Like for like revenues were positive on
food and beverage, but pressure on merchandise sales in recent weeks in the
USA resulted in a 2% overall decline year on year. Like for like revenues in
Europe remained positive, as in 2000. A number of cafe reconfigurations were
completed in the quarter including London and Paris. The newly opened Hard
Rock hotel in Orlando performed exceptionally well.
Within Deluxe, film processing remained strong, video duplication showed
resilience following the restructuring in 2000, but the DVD market continued
to be difficult.
- ends -
Enquiries:
The Rank Group Plc
Ian Dyson, Finance Director
020 7535 8062
Press enquiries:
The Maitland Consultancy
Laura Frost
020 7379 5151
RG/03/01
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