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Rank Group announces 30% increase to their interim dividend

Investment Tools Ltd.
Rank Group announces 30% increase to their interim dividend

The Rank Group Board has declared a 30% increase in interim dividend to 2.8 pence per share to be paid to be paid on 13 March 2020 to shareholders on the register at 14 February 2020.

Other financial highlights include:

Acquisition of Stride completed 4 October 2019 and the implementation of a comprehensive integration plan is underway

In the quarter prior to completion Stride's NGR declined by 15%, and by 2% in the quarter post acquisition

Strong LFL NGR growth in Digital - Grosvenor up 21% and Mecca up 13%

Yo underperformed with LFL NGR down 2% but the Group remains confident of its future prospects

Grosvenor venues LFL NGR grew by 15% with a strong trading performance across the London venues and a positive customer response to key investments into product, technology and facilities

Mecca venues LFL NGR down 1% with growth in gaming machines offset by lower customer visits impacting bingo and interval games revenue

Investment in the Spanish Enracha venues estate has supported a 9% growth in International venues LFL NGR

Several key safer gambling initiatives delivered in H1 with a programme of further developments scheduled for H2

H1 cost savings delivered from the casino operating model changes on track to deliver annualised saving of £19m

Strong cash flow generation led to better than expected underlying net debt of £59.0m

Companies mentioned

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