Industry News

The Rank Group improves revenue in H2

Published

6 years ago

February 1, 2019

Niji Narayan

Photo Source: ft.com

Reading Time: < 1 minute

The Rank Group has announced its interim results for the last six months, showing an increase in revenue from £366m to £375m.

The result shows an improvement in digital revenue in the period, with Mecca Bingo and Grosvenor Casinos continuing to grow customer volumes.

John O’Reilly, chief executive, said: “The first half of our financial year has been a tough trading period. I am, however, encouraged by the group’s improved performance in H2. The three-year transformation programme that we outlined at our full-year results in August 2018 is now well under way with nearly 300 initiatives identified and tasked. The programme will gain further momentum in H2 2018/19 and the management team is positive about what can be achieved.”

“While there is lots to be done to deliver the revenue improvements and cost efficiencies identified, I am confident in the outlook for Rank and excited about the opportunities that exist”, he added.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.