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Rank Financials Stumble

6 April 2018 by Dustin Jermalowicz

Internet betting group Rank had a less than stellar start to 2018 as financials were lower than expected.

Key financial indicators for the company were:

  • Annual profits of £77 million, down from the £83 projected by analysts
  • Mecca bingo hall sales down 2% in the first quarter
  • Shares at 180p on Thursday, the lowest point in more than three years.

In a trading statement to partners the company advised: "The board is cautious about the UK consumer outlook and as a result expects venues to continue to be impacted for the remainder of the 2017-18 financial year and into 2018-19."

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bgsharpe
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11 April 2018 - 8:42am
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Yeah..that's why they call these a predictions, right?!

It doesn't look too bad for Rank although I guess that's the lowest numbers which they predict and couldn't reach.