Rank Group PLC Trading Statement (3851P)
June 20 2022 - 1:00AM
UK Regulatory
TIDMRNK
RNS Number : 3851P
Rank Group PLC
20 June 2022
20 June 2022
The Rank Group Plc
LEI: 213800TXKD6XZWOFTE12
Trading update
Rank provides an update on its profit expectations for the year
ending 30 June 2022
As noted in the trading update of 21 April 2022, the Group had
witnessed softer performance in our UK venues throughout Q3 and had
entered Q4 with visit numbers down across our Grosvenor casinos. We
have seen some improvement in Grosvenor's performance post April,
but it has been considerably weaker than expected, principally due
to a slower than expected return of higher spending overseas
customers to our London casinos, continued softness in visitor
numbers across the UK and a lower-than-average casino win margin in
the quarter to date.
The performance of our other business segments has been broadly
in line with management's expectations.
As a result of the recent performance in Grosvenor venues and
continued inflationary cost pressures across the Group, subject to
normal casino win margins between now and the year end, we expect
like-for-like underlying operating profit to be approximately
GBP40m for the year ending 30 June 2022, lower than the previously
guided range of GBP47m - GBP55m.
Forthcoming announcements
Rank will announce its preliminary results for the 12 months
ending 30 June 2022 on 18 August 2022.
Ends
Contacts:
Rank
Sarah Powell - investor relations Tel: +44 1628 504 303
David Williams - public affairs Tel: +44 1628 504 295
Media Enquiries:
FTI Consulting LLP (PR adviser
to Rank)
Edward Bridges Tel: +44 20 3727 1067
Alex Beagley Tel: +44 20 3727 1045
Information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUKAVRUVUNAAR
(END) Dow Jones Newswires
June 20, 2022 02:00 ET (06:00 GMT)
Rank (LSE:RNK)
Historical Stock Chart
From Apr 2024 to May 2024
Rank (LSE:RNK)
Historical Stock Chart
From May 2023 to May 2024