Tag Archives: henry birch

Rank issues profit warning as adverse weather impacts venue performance

The governance of Rank Group Plc has today issued a corporate profit warning, detailing that its Grosvenor Casino and Mecca Bingo venues have been negatively impacted by adverse UK weather conditions recorded during Q1 2018. Updating the market, Rank details that March’s snowstorm has impacted customer activity/engagement with its UK Grosvenor and Mecca properties. The London-listed gambling group details a …

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Henry Birch hands notice as Rank leader

Issuing a short corporate statement, FTSE-listed gambling operator Rank Group Plc has confirmed the departure of Henry Birch as Group Chief Executive. Updating the market, Rank governance informs that Birch has handed-in his 12-month notice, and will be joining UK highstreet retailing group Shop Direct as new Chief Executive. Rank governance has begun the executive search for Birch’s replacement and …

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Rank Group posts solid H1 growth through digital muscle & venue efficiencies

Publishing its half-year H1 2017/18 results (6-month period ending 31 December), FTSE-listed gambling operator Rank Group Plc has detailed continued digital growth combined with solid returns from its venues performance. Updating the market, Rank reports strong financial KPI growth for its trading period, declaring group adjusted profits of £40 million, up 17% on corresponding H1 2016/17’s £34.5 million. The FTSE …

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Tough ‘venues’ condition sees Rank Group up digital presence

Ahead of its Annual General Meeting, London-listed gambling operator Rank Group Plc has issued a 16-week trading update (period ending 15 October). The gambling operator has stuck by its full-year guidance, despite facing tough ‘venue conditions’ in 2017. In its latest trading update, Rank would sustain a like-for-like group revenue increase of 2%. The company detailed that growth was primarily …

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Rank Group boosts digital division to counter ‘Tough’ venue conditions

Tough retail conditions have impacted the H1 2017 performance of London-listed gambling operator The Rank Group Plc. The company has detailed a ‘challenging period’ in which its Grosvenor and Mecca venues have faced multiple increased costs. Updating the market, Rank would maintain group revenues of £754 million (1% increase), with the firm’s venue division generating like-for-like revenues of £642 million …

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Rank Group digital revenue climb offsets stagnant venue performance

London LSE-listed gambling operator Rank Group Plc has this morning issued a short trading statement informing investors of its corporate performance for the 46-week period to 14 May. Issuing its statement, Rank governance informs that group combined revenues remain flat gaining a 1% year-on-year increase. On a channel basis, digital revenues grew by 13%, however group revenue performance has been …

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Rank Group appoints Martin Pugh & Alan Morgan as Grosvenor & Mecca MDs

FTSE-listed gambling operator Rank Group Plc (Rank) has announced two leadership appointments for its core assets, Grosvenor Casino and Mecca Bingo. Updating the market, Rank governance announced that Martin Pugh has been appointed Managing Director of its Grosvenor Casino division, having served as leader of Mecca Bingo (2014-2016). Pugh replaces Mark Jones as Grosvenor leader, who departed the company last …

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The Times: M&A hungry Rank eyes 888 merger

The Times has reported that Rank Group governance are considering a £1.6 billion tie-up with 888 Holdings, following the pair’s failure to lure William Hill into a three-way merger. Following its H1 2016 results in which Rank would declare adjusted group profits of £77 million, CEO Henry Birch revealed to Reuters News that his firm was actively looking for potential …

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Digital growth sees Rank Group post ‘Solid’ 2015/16 results

Presenting its full-year 2015/16 results (period ending 30 June), The Rank Group PLC (Rank) has declared a solid financial year reporting like-for-like growth across its divisions. Closing its financial year, Rank would record total group revenues of £753 million up 2% on FY 2014/15: £738 million. The operators sustained revenue performance would see it post FY group EBITDA of £128 …

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William Hill says NO to Rank-888 revised offer

A morning of high industry M&A drama has seen William Hill’s board reject the revised consortium takeover offer put forward by Rank Group and 888 Holdings. The new offer presented to William Hill governance on Sunday would see 888 act as the acquiring entity for the ‘BidCo’ consortium. William Hill investors would be offered 199 pence in cash and 0.860 BidCo …

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