The Rank Group has announced its interim results for the six months ended December 31, marking a return to profitability with improving venue performance in Grosvenor, Mecca and Enracha.
The UK government's Plan B measures, the return of social distancing measures in Scotland and Wales, the reintroduction of capacity and opening hour restrictions in Spain, together with the resultant increase in consumer caution in regards to indoor hospitality settings negatively impacted trading in November and December.
The digital business grew revenues seven per cent in the half and in January 2022 has completed the successful migration of meccabingo.com to the RIDE proprietary trading platform.
Cash and bank facilities ended December at £224.8m, strengthened by the return to cash generative trading and receipt of the £83.1m VAT repayment, enabling an acceleration in the group's Transformation 2.0 programme
