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Rank Group PLC on Thursday lifted its interim dividend despite weaker profit, and noted its mitigation efforts for incoming cost headwinds are ‘well advanced’. The Maidenhead, England-based owner of Grosvenor Casino and Mecca Bingo reported £23.9 million in pretax profit for the six months that ended December 31, down 19% from £29.4 million a year prior. Revenue however rose 4.5% to £420.0 million from £401.8 million, as Grosvenor Venues revenue gained 5.8% to £204.0 million, and Mecca Venues improved 4.2% to £69.8 million. Digital Venues revenue also improved, rising 7.8% to £123.7 million, and Enracha Venues edged up to £22.3 million from £21.0 million. The weaker earnings despite the improved top line are attributed to rising expenses, as other operating costs edged 4.1% higher to £153.3 million from £147.3 million. Cost of sales also picked up, rising 3.5% to £236.7 million from £228.7 million. Rank declared an interim dividend per share of 1.00 pence, up 54% from 0.65p. On current trading, Rank noted ‘strong trading’ across all businesses during the festive period, following a slightly softer second quarter, with January trading in line with expectations. Rank did state that it expects the near doubling of remote gaming duty from 21% to 40% for UK digital businesses to impact profitability, along with the increase in the national living wage. However, the company said its mitigating actions to offset the impact of these measures as much as possible are ‘well advanced’. Rank expects to deliver a full-year outcome in line with expectations. Shares in Rank were up 1.1% at 92.00 pence around midday on Thursday in London. ‘We continue to deliver improving results which demonstrate the resilience of the Group and our ability to take advantage of the opportunities available to us, both online and in our venue.’ said Chief Executive John O’Reilly. ‘The second half of the year will bring further cost headwinds, principally in our UK digital business, which will be impacted by the UK government’s huge increase in tax rates. We have already executed measures to mitigate some of this impact, whilst continuing to prioritise customer experience, and the group will respond with agility as a heavily disrupted landscape takes shape in the UK.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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