RNK Rank Group Plc

TIDMRNK

RNS Number : 9560Z

Rank Group PLC

16 January 2020

16 January 2020

The Rank Group Plc

LEI: 213800TXKD6XZWOFTE12

Trading Update and Notice of Results

Following further positive trading in Digital and the Grosvenor and International venues businesses, underpinned by cost savings from the Transformation Programme, The Rank Group Plc ("Rank") now expects underlying operating profit* pre IFRS16 for the year ending 30 June 2020 to be above current market expectations (analyst range of GBP93m to GBP103m) and, based on the trends experienced to date, to be in the range of GBP105m to GBP115m.

The Group's operating profit expectations including the impact of IFRS16 are as follows:

 
                        Consensus range        Guidance 
 Underlying operating   GBP93m - GBP103m   GBP105m - GBP115m 
  profit* pre IFRS16 
                       -----------------  ------------------ 
 Expected impact of            -                 GBP8m 
  IFRS16 on operating 
  profit (offset by 
  increase in finance 
  costs) 
                       -----------------  ------------------ 
 Underlying operating          -           GBP113m - GBP123m 
  profit* 
                       -----------------  ------------------ 
 

*Underlying operating profit is operating profit before amortisation of acquired intangibles; revaluation of investments; profit or loss on disposal of businesses; acquisition and disposal costs including changes to deferred or contingent consideration; impairment charges; reversal of impairment charges; restructuring costs as part of an announced programme; charges and credits for financing fair value remeasurements; discontinued operations and exceptional items, should they occur in the period.

Rank will announce its interim results for the six months ended 31 December 2019 on 30 January 2020.

A presentation will be held at 9.30am on 30 January 2020, admittance to which will be by invitation only. Shareholders and analysts wishing to attend the presentation in person should please contact Claire King by email to claire.king@rank.com or by telephone on 01628 504 192.

The presentation will also be accessible via a live webcast, details of which can be found at www.rank.com.

The information contained within this announcement constitutes inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Enquiries

 
 The Rank Group Plc 
 Sarah Powell, director of investor relations   Tel: 01628 504 303 
  and communications 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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