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Prices & Quotes - UK Markets - Rank Group (RNK)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 151.20p
Change Today:
3.00p
Market Cap:
708.22m
Sector:
Travel & Leisure

Rank Q1 revenues rise as punters return to venues

By Frank Prenesti

Date: Thursday 14 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Bingo hall and casino operator Rank on Thursday reported higher first-quarter revenue as punters returned to its venues after the lifting of Covid-19 restrictions.
The company said net gaming revenue rose 69% to 163.1m on a like-for-like basis for the three months to September 2021 30.

Revenue at its Grosvenor casino venues grew by 209% to 79m year on year, but were down 20% compared to the same quarter in 2019/20, before the impact of the Covid-19 pandemic.

"London continues to feel the impact of reduced tourism, whilst outside London NGR is running at close to pre pandemic levels," the company said in a trading update.

Mecca bingo venues grew NGR by 41% year on year, but were down 22% compared to the same quarter in 2019/20.

Rank said visit numbers and NGR had gradually improved through the quarter "but visits from our older and more frequent customers have been slower to return than other cohorts".

Rank forecast annual like-for-like net gaming revenue for the year to June 30, 2022 to be 700m - 750m and earnings before interest and tax of 50m - 75m, assuming venues stay open.

Shore Capital analyst Greg Johnson reiterated the broker's 'buy' stance on the stock, but noted that cost pressures are building - notably in labour and utilities - with the consumer outlook "potentially more challenging".

Although, we see concerns over cost pressures and also the outlook for consumer expenditure, the key delta remains the return of international tourism for its London casino estate, which we expect to pick-up going into the second half and particularly the Q4 period (to June)," Johnson wrote in a note to clients.

"We retain our top of guidance expectations at this stage and would expect the interim results in January to provide a clearer picture. On under 5x fully recovered EBITDA, which we expect by full-year 2024."





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Rank Group Market Data

Currency UK Pounds
Price 151.20p
Change Today 3.00p
52 Week High 207.00p
52 Week Low 123.00p
Volume 46,288
Shares Issued 468.40m
Market Cap 708.22m
Beta 0.06

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rank Group Dividends

  Latest Previous
  Interim Final
Ex-Div 13-Feb-20 19-Sep-19
Paid 13-Mar-20 29-Oct-19
Amount 2.80p 5.50p

Trades for 26-Jan-2022

Time Volume / Share Price
12:35 2 @ 151.20p
12:35 514 @ 151.20p
12:34 237 @ 151.20p
12:34 275 @ 150.60p
12:34 60 @ 150.60p

Rank Group Key Personnel

Chair Alex Thursby
CEO John O'Reilly