Rank resilient despite recession

28th Jul 2011 15:24

Tough economic conditions are failing to keep gamblers away from bingo halls and casinos, judging by Rank Group's half yearly figures.Revenue at the company in the six months to 30 June rose to £294m from £281.1m over the same period the previous year, while adjusted pre-tax profits rose to £26.3m from £25.1m.Customer visits increased by 1.5% to 11.5m, the company, which operates Mecca bingo halls and Grosvenor casinos, said. Spend per visit climbed by 1% to £22.71, the company said."During the first half of 2011 we have maintained the progress of recent years as rising customer numbers drive profit and revenue," chairman Ian Burke said. "We have a portfolio of some of the strongest brands in UK gaming and the ability to reach our customers through our estate of well-invested venues, our high quality websites and increasingly via mobile channels."Rank also operates Top Rank Espana in Spain and the online poker business BlueSquare, both of which like Mecca and Grosvenor saw revenues rise.Shares in Rank were down by 1.6% to 146.9p at 3.55pm.---RG