Rank revenues up, positive outlook

8th Oct 2009 07:46

Casinos and bingo outfit Rank reported a 2% rise in revenue in the 14 weeks to 4 October and said it remains confident in its sustainable growth strategy.On a like-for-like basis, revenue was in line with the comparable period. Grosvenor Casinos continued to perform well as a result of strong growth in customer visits. Mecca Bingo delivered a modest increase in like-for-like revenue, as growth in spend per visit offset a lower number of customer visits. Trading remained challenging in Rank's two smallest businesses, Top Rank Espana and Rank Interactive, due to the contraction in the Spanish economy and weakness in football win margins respectively.'The group's positive trading performance reflects the success of the actions we have taken to improve the value and quality of the service that we offer our customers and thus to grow market share,' said the group.'In line with the plans we set out at our half-year results, we will continue to invest in our businesses, with a particular focus on the growth of the G Casino brand and the further development of the 'Full House' concept in Mecca Bingo.'