Rank 1H Profit Surges As Customers Return; Strong Start To FY11

29th Jul 2010 07:33

LONDON (Dow Jones)--Rank Group PLC (RNK.LN) Thursday posted a surge in first-half pretax profit as it attracted more customers to its bingo and casino halls and said it has continued to grow comparable sales in each of its businesses so far in the new fiscal year. The Mecca Bingo and Grosvenor Casinos operator said the number of customers visiting its Mecca Bingo chain grew for the first time in more than 10 years. Overall customer numbers across its businesses rose nearly 12% in the six months to June 30 and it now has more than 2.5 million customers who are also spending more, as spend per visit climbed 1.5% on the year in the half to GBP22.48. Rank's half-year revenue climbed to GBP296.6 million from GBP255.9 million. Pretax profit rose to GBP67.4 million from GBP27 million a year earlier. The company reintroduced a midway dividend of 0.74 pence, having not paid one at the same stage a year earlier. Rank said it is "encouraged" by its trading performance so far this year, in spite of the challenging environment for consumer-facing businesses. It plans to open three new-build G Casinos by the end of 2012. Rank said the G Casinos brand combines traditional casino gaming with good quality food and drink, entertainment and community games such as card room poker. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] -0- (MORE TO FOLLOW) Dow Jones Newswires July 29, 2010 02:33 ET (06:33 GMT)