The Rank Group has exhibited strong digital growth and good retail cost control in its half year results ending December 31, 2017.
The company reported an increase for UK digital revenue of 16 per cent, with operating profit up 56 per cent.
Group operating profit, before exceptional items, was up 14 per cent, and dividends were up eight per cent to 2.15p a share.
Henry Birch, chief executive of Rank, said: “We are pleased to report a good set of results, with adjusted profit before tax up 17 per cent, and a particularly strong digital performance, with revenues up 16 per cent and operating profit up 56 per cent, despite the introduction of new gaming duty rules on customer bonuses. Along with much of the high street, we have faced a more challenging retail trading environment in the first half, but our combined venues businesses delivered an impressive nine per cent growth in operating profit.
“2018 promises to be a busy year with continued positive changes, including the launch of a single account and wallet product across Grosvenor’s retail and digital businesses. We remain confident in the outlook for the group, with management’s expectations for the full year unchanged.”
