Chancellor's Budget costs Rank £2.5m
23rd Jun 2010 07:58
Rank has calculated yesterday's Budget will result in a net cost to the Mecca bingo clubs and casinos firm of about £2.5m from 2011. The increase in the standard rate of VAT from 17.5% to 20% and changes to the National Insurance regime will force the group to "seek ways to minimise the impact on e
Read moreRank gets £42.5m back from HMRC
21st May 2010 16:30
Casino and bingo hall operator Rank Group has received £42.5m in overpaid VAT from Her Majesty's Revenue and Customs but HMRC is still appealing the case. The repayment relates to £16.1m overpaid on games of bingo between 2004 and 2009 and £26.4m relating to amusement machine revenues between 2002
Read moreBroker tips: Ladbrokes, William HIll, UBM, Intertek
14th May 2010 13:23
Today's earnings from bookmaker Ladbrokes were broadly in line with expectations, but analysts worry about the risk of increased gaming duty in the new government's emergency budget. Group net revenue fell 6% over the four months to April, with betting shop net revenue down 11%. Operating profit ro
Read moreBroker snap: Ladbrokes not the best bet
14th May 2010 12:16
Today's earnings from bookmaker Ladbrokes were broadly in line with expectations, but analysts worry about the risk of increased gaming duty in the new government's emergency budget. Group net revenue fell 6% over the four months to April, with betting shop net revenue down 11%. Operating profit ro
Read moreLondon close: Greek problems resurface
22nd Apr 2010 16:45
Worries about Greece's debt situation knocked global markets and kept Footsie in the red at the close. Greece's financial situation came under scrutiny again after the statistics agency Eurostat warned the country's 2009 budget deficit was 13.6%, more that the 12.7% previously estimated, and warned
Read moreLondon afternoon: No help from US
22nd Apr 2010 14:59
Footsie is not being helped by the US, which has started deep in the red, as worries about Greece's debt situation knocks global markets. Greece's financial situation is under scrutiny again after the statistics agency Eurostat warned the country's 2009 budget deficit was 13.6%, more that the 12.7
Read moreLondon midday: Greek worries resurface
22nd Apr 2010 11:56
Footsie remains deep in the red now as concerns about Greece's debt situation resurfaced. Greece's financial situation is under scrutiny again after the statistics agency Eurostat warned the country's 2009 budget deficit was 13.6%, more that the 12.7% previously estimated. Financials are the majo
Read moreLondon open: Shares slightly lower
22nd Apr 2010 08:13
London's top stocks have opened slightly lower after the US gave up most of its gains before trading closed last night. Bus and rail operator Arriva has agreed to be taken over by Germany's Deutsche Bahn in a £1.59bn deal that will create a new European transport giant. Under the terms of the deal,
Read moreRank enjoys strong start to year
22nd Apr 2010 08:07
Casino and bingo hall operator Rank said it has made an 'encouraging' start to 2010, with like-for-like sales climbing by 4% in the 16 weeks to April 18. Grosvenor Casinos saw like-for-like sales rise by 9%. Sales at Rank's Spanish bingo division Top Rank Espana sales climbed by 3%, but they were d
Read moreFriday tips round-up: Rank, Segro, Hays
26th Feb 2010 06:42
Bingo club owner Rank's chief executive, Ian Burke, put his money where his mouth is by buying £100,000 worth of shares yesterday, demonstrating his confidence in the business. His decision could have been influenced by Rank's shares trading on a relatively modest 2010 estimated price to earnings r
Read moreFidessa directors offload shares
25th Feb 2010 16:44
Financial software provider Fidessa's chief executive and chairman have sold shares less than one week before they go ex-dividend. Fidessa announced a 40p a share special dividend when it published its 2009 figures at the beginning of last week. This is in addition to a 20p a share final dividend
Read moreLondon close: Overseas concerns sink Footsie
25th Feb 2010 16:28
Blue chips closed sharply lower as fears about Greece resurfaced and US dole claimant figures were worse than expected. On a busy day for big company results RBS hogged the headlines. The part-nationalised bank saw its net attributable loss narrow markedly in 2009 with fourth quarter impairments 5%
Read moreLondon afternoon: Footsie heads south
25th Feb 2010 14:23
The Footsie sank below last night's closing level over the lunch time session, weighed down by weak miners. On a busy day for big company results RBS continues to hog the headlines. Though off the top, the share price is still sharply higher after the part-nationalised bank saw its net attributable
Read moreRank brings back the dividend
25th Feb 2010 08:38
Investors are betting on a recovery at Rank after the bingo and gaming group resumed dividend payments and said its Grosvenor Casinos business continues to drive growth in 2010. The unit reported a 20% jump in revenue and 14% leap on a like for like basis for the eight weeks to 21 February thanks t
Read moreSector movers: Leisure stocks in demand
8th Jan 2010 11:34
Well-received updates from a handful of leisure stocks have lifted the sector. Pub group Mitchells and Butlers said trading in the new financial year has remained strong, thanks to sales growth across the main brands, but cautioned that it is still cautious on the outlook for consumer spending. Th
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