Rank’s half-year pre-tax profit jumps to £32.5M
Rank, the owner of Grosvenor Casinos and Mecca Bingo, enjoyed an 8 per cent increase in its half-year pretax profit, thanks to an unprecedented rise in the number of customers.
The British gaming group said its adjusted pre-tax profit jumped to 32.5 million pounds in the six months to December 31 last year, while total revenue jumped 3 per cent to settle at 295.9 million pounds.
Grosvenor Casinos accounted for 125.8 million pounds in revenue, while Mecca Bingo generated revenue of 117.4 million pounds.
Profits at Grosvenor Casinos and Mecca Bingo jumped 11 per cent and 8 per cent to 20.4 million and 14.8 million pounds respectively.
Grosvenor Casinos attracted 61,000 more customers to a total of 762,000 during the six-month period, while the number of Mecca Bingo’s customers jumped by 50,000 to 770,000.
Rank chief executive Ian Burke said the company would also expand its business online.
Speaking on the topic, Burke said, “Mecca is number one in the internet bingo market, and we’re starting to get our act together in online casinos too.”
Shares in Rank were trading at 142p, up 0.7 per cent, at around 0930 GMT.
