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Rank Group PLC reported ‘continued strong momentum with revenue and profit growth across all businesses’ in its latest half year. The Maidenhead, England-based casino operator said pretax profit more than tripled to £34.7 million in its first half, which ended on December 31, from £10.4 million the year before. Basic earnings per share also more than tripled to 6.2 pence from 1.9p. Operating profit more than doubled to £40.2 million from £16.2 million, while underlying LFL operating profit increased 55% to £32.9 million from £21.2 million. Net gaming revenue increased 11% to £401.8 million from £362.6m million, while underlying like for like net gaming revenue rose 13% ‘with all businesses reporting growth’ driven by ‘focused investment’. Rank Group declared a 0.65 pence per share dividend, up from no interim dividend the year before. Subsequently, Rank said, all its businesses experienced strong trading through the Christmas and New Year holiday period, and revenue in January was in line with expectations. The company expects ‘some trading variance’ in the third quarter, ‘followed by increased cost pressures’ in the fourth. For the full year ending June 30, Rank Group now expects underlying LFL operating profit ‘to be slightly ahead of current expectations’. ‘The second half will see inflationary employment cost headwinds and the negative financial impact of some of the measures in the Gambling Act, but we are confident that our ability to both grow revenues and secure further cost efficiencies will help us to sustain our positive profit trajectory,’ commented Chief Executive John O’Reilly. He continued: ‘We are readying ourselves to take full advantage of the benefits of the land-based legislative reforms which we expect to see implemented from summer 2025. A programme of venue and product improvements is well advanced as we prepare to better meet the needs of our customers when the time comes.’ Rank Group shares closed down 1.1% at 89.00 pence in London on Thursday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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