Rank expecting profit above expectations

Following further positive trading in digital and the Grosvenor Casinos and international venues businesses, the Rank Group now expects underlying operating profit for the year ending June 30, 2020, to be above current market expectations.

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 December 31, 2019 on 30 January.