Rank Group expected to release flat sales growth

Rank Group is set to release financial results after abandoning William Hill bid with 888 Holdings.

UK.- Grosvenor Casinos operator Rank Group is expected to release its full-year results this week. The will post these results on Tuesday after it pushed the release back by five days last week.

The reason for the delay was due to the then-ongoing joint bid with 888 Holdings for William Hill, which would have resulted in the largest gambling group in the UK market if successful. Rank Group expects its results to remain within management expectations.

Analysts expect sales to rise by 0.64 percent to £756.5 million at the Mecca Bingo owner in the year ended 30 June. According to a Reuters consensus estimate, up from £751.7 million in 2015. Then, earnings per share are expected to increase five per cent to 15.6p, up from 14.9p last year.

Rank’s stock closed up 0.6 per cent on Friday at 223p. The gambling operator owns more than 50 Grosvenor Casinos in the UK, two in Belgium and nearly 90 Mecca Bingo clubs in the UK. In the 19 weeks to 8 May, total revenue rose by two percent, lifted by a three percent rise in sales at Grosvenor Casinos, although tempered by a one percent fall in Mecca Bingo turnover.