LONDON (ShareCast) - (ShareCast News) - Rank Group posted a 19% rise in pre-tax profit for the 12 months ended 30 June, with a significant improvement across all the company's brands.
The bingo club and casino operator said pre-tax profit came in at £74.1m from £62.5m the previous year, while revenue was up 4% to £738.3m.

Adjusted earnings per share rose 18% to 14.6p and the interim dividend was lifted by 24% to 5.60p.

Chief executive Henry Birch said: "Alongside our strong operating performance, we have made good progress on our strategic objectives that we outlined 12 months ago, and we have a clear strategy for delivering sustainable profitable growth across all our brands.

"We firmly believe that alongside growth in digital gambling, there will continue to be sustained demand for venue-based gambling in bingo clubs and casinos which offer an experience that cannot be digitised. Moreover, we believe that consumer trends will increasingly favour companies that can offer services across digital and retail channels and successfully offer a joined-up experience to our customers."

Rank's Grosvenor Casinos business continued to deliver consistent growth with like-for-like revenue up 8% and operating profit up 17%, while Mecca had a significantly improved year with LFL revenues up 2% and operating profit 16% higher, driven by good digital growth, stable LFL revenues in its venues and lower operating costs benefiting from a reduction in bingo duty.

Rank said trading in the seven-week period to 16 August has continued in line with the trends seen in 2014/15 and is consistent with management's expectations.

The group said the introduction of the national living wage will affect the last quarter of 2015/2016. It said that while the change would result in additional costs, the majority of these can be mitigated over time.

Rank also said on Thursday that it has appointed Susan Hooper to the board as a non-executive director with effect from 1 September. She will also serve on the company's remuneration and nominations committees.

Hooper was managing director of British Gas Residential Services until October 2014.

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