Business
Accounting change: segmental
Accounting change: segmental.
About this update from Rank Group Plc
[{"type":"text","content":"\n RNS Number : 6790U Rank Group PLC 29 June 2009 \nThe Rank Group Plc\n\n29 June 2009\n\nAccounting change: segmental operating profit\n\nThe Rank Group Plc ('Rank' or the 'Group') in accordance with IFRS 8 ('Operating segments') will modify its reporting of segmental operating profit from the beginning of the current financial year. This is solely an accounting adjustment and consequently there are no changes to Group operating profit, profit before tax or earnings per share.\n\nCertain operating costs, previously reported within 'shared services' will be allocated to Mecca Bingo, Grosvenor Casinos and Rank Interactive as appropriate. In addition, the remaining 'shared services' costs will be aggregated with 'central costs' under 'central overhead'. These changes will take effect from Rank's half-year financial results for the six months ended 30 June 2009 which are scheduled to be announced on 31 July 2009.\n\nTo aid year-on-year comparison, Rank has prepared segmental operating profit figures for 2008 (first half and full year) on the same allocation basis that it will report its 2009 financial results (see note 1 below).\n\nThe Rank Group Plc full-year 2008 - segmental operating profit (£ million)\n \n\n\n\n\n\n\n\nTreatment adopted for 2009 financial year\n\n\nAs published in annual report business review\n\n\n\n\nMecca Bingo\n\n\n37.9\n\n\n41.8\n\n\n\n\nTop Rank Espana\n\n\n6.9\n\n\n6.9\n\n\n\n\nGrosvenor Casinos\n\n\n25.9\n\n\n29.5\n\n\n\n\nRank Interactive\n\n\n7.6\n\n\n11.4\n\n\n\n\nShared services\n\n\n-\n\n\n(20.8)\n\n\n\n\nCentral costs\n\n\n-\n\n\n(8.5)\n\n\n\n\nCentral overhead\n\n\n(18.0)\n\n\n-\n\n\n\n\nGroup\n\n\n60.3\n\n\n60.3\n\n\n\n\n\nThe Rank Group Plc half-year 2008 - segmental operating profit (£ million)\n \n\n\n\n\n\n\n\nTreatment adopted for 2009 financial year\n\n\nAs published in annual report business review\n\n\n\n\nMecca Bingo(1)\n\n\n22.7\n\n\n24.5\n\n\n\n\nTop Rank Espana\n\n\n4.1\n\n\n4.1\n\n\n\n\nGrosvenor Casinos\n\n\n12.5\n\n\n14.5\n\n\n\n\nRank Interactive\n\n\n3.5\n\n\n5.3\n\n\n\n\nShared services\n\n\n-\n\n\n(11.2)\n\n\n\n\nCentral costs\n\n\n-\n\n\n(5.4)\n\n\n\n\nCentral overhead\n\n\n(11.0)\n\n\n-\n\n\n\n\nGroup(1)\n\n\n31.8\n\n\n31.8\n\n\n\n\n\nNote 1 - Operating profit for Mecca Bingo and the Group in the first half of 2008 is shown on the same basis as that disclosed...