Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Rank Group Plc
[{"type":"text","content":"\n \nRNS Number : 9560Z Rank Group PLC 16 January 2020 \n\n16 January 2020\nThe Rank Group Plc\nLEI: 213800TXKD6XZWOFTE12\n \nTrading Update and Notice of Results \nFollowing 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 £93m to £103m) and, based on the trends experienced to date, to be in the range of £105m to £115m.\n \nThe Group's operating profit expectations including the impact of IFRS16 are as follows:\n\n\n\n\n\n\nConsensus range\n\n\nGuidance\n\n\n\n\nUnderlying operating profit* pre IFRS16\n \n\n\n£93m - £103m\n\n\n£105m - £115m\n\n\n\n\nExpected impact of IFRS16 on operating profit (offset by increase in finance costs)\n \n\n\n-\n\n\n£8m\n\n\n\n\nUnderlying operating profit*\n \n\n\n-\n\n\n£113m - £123m\n\n\n\n*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.\nRank will announce its interim results for the six months ended 31 December 2019 on 30 January 2020.\n \nA 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 [email protected] or by telephone on 01628 504 192.\n \nThe presentation will also be accessible via a live webcast, details of which can be found at www.rank.com.\n \nThe information contained within this announcement constitutes inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.\n \nEnquiries\n \n\n\n\nThe Rank Group Plc\n\n\n\n\n\n\n\nSarah Powell, director of investor relations and communications&nb...