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 million, up 2% on FY 2014/15: £126 million.

The firm’s sustained top-line metric performance would see Rank governance declare adjusted group profits of £77.4 million for 2015/16 up 4% on FY 2014/15: £74 million.

Detailing performance highlights, Rank Governance pointed to the continued digital growth of its product portfolio, which recorded an 11% uplift. Rank Governance noted that the division had been aided by the migration to a new platform in Q3 2015/16 which had been delivered ‘on time and within budget’.

The firm’s digital performance would be backed by a 2% growth in its Mecca Bingo retail division

Henry Birch, Chief Executive of Rank Group Plc said:

I am pleased to report a solid set of results with Group revenue up 2%, again recording like-for-like growth across all brands and channels in the year.”

“This year we have focused on delivering significant projects to ensure we have the right platform in place for future growth.  This included the migration of our digital business onto a new platform, the rollout of an improved retail casino management system and investments into new generation machines in both our casino and bingo venues.”

“Rank remains in a strong financial position, possesses market-leading brands and has a clear strategy for long-term growth.  The board continues to look to the future with confidence.”