Rank profits climb as gamblers splash out

29th Jul 2010 13:13

Shares in Rank moved ahead after the bingo hall and casino operator announced a slight rise in profits and reported strong customer numbers in both businesses.In the half year to June 30, adjusted pre-tax profits climbed to £25.1m from £24.7m over the same period the previous year, as revenues climbed to £281.1m from £266m.At Grosvenor Casinos, customers exceed 1m for first time, the company said. Mecca Bingo saw customer visits grow for first time in more than a decade.'I am encouraged by the Group's performance during the first half of 2010. All of our businesses have achieved growth in revenue as a result of increased numbers of customers and customer visits,' chief executive Ian Burke said.'We have engaged with our customers to identify the changes that we needed to make to our products and services; we have strengthened our senior management team in order to deliver performance change; and we have stepped up our capital investment to support the growth plans of the businesses.'