UK casino operator Rank Group reported positive results for the first half of the year.
For the six months ended June 30, 2009, the company generated revenue of £266m, compared to £257m during the same period in 2008. Group operating profit before exceptional items was £30.2m, up from £28.9m in 2008, and adjusted profit before tax increased from £17.6m last year to £24.7m.
Ian Burke, chief executive of the Rank Group, said the company had achieved profitable revenue growth in a “difficult” economic climate and continued to reduce its debts.
“We have set out a clear strategy for growth within the UK gaming market, expanding our portfolio of G Casinos, delivering operational improvements in Mecca bingo and repositioning Rank Interactive to prioritise its gaming websites and meccabingo.com in particular,” he commented. “Despite the economic uncertainty, we are encouraged by the progress we have made this year in terms of enhanced customer propositions, a stronger senior management team and the group’s financial position.
“While we remain cautious in the near term, we look forward with confidence in the long-term prospects for gaming and the success of the group’s growth strategy.”
