Similar to last year’s trends, Rank reported that total Venues l-f-l revenues declined by 1%, mainly due to lower customer visits. This was offset by a 16% increase in Digital, where Mecca digital has clearly turned the corner. To reflect the lighter result in Venues, we have lowered our FY18 and FY19 revenue estimates by c 2-3%, but improved operational efficiencies mean that our profit forecasts are largely unchanged. The business model remains highly cash generative, with £4m net cash achieve ....
01 Feb 2018
Rank Group - Operational efficiencies keep forecasts intact
Rank Group - Operational efficiencies keep forecasts intact
Rank Group Plc (RNK:LON) | 73.0 2.2 4.2% | Mkt Cap: 342.0m
- Published:
01 Feb 2018 -
Author:
Victoria Pease - Pages:
Similar to last year’s trends, Rank reported that total Venues l-f-l revenues declined by 1%, mainly due to lower customer visits. This was offset by a 16% increase in Digital, where Mecca digital has clearly turned the corner. To reflect the lighter result in Venues, we have lowered our FY18 and FY19 revenue estimates by c 2-3%, but improved operational efficiencies mean that our profit forecasts are largely unchanged. The business model remains highly cash generative, with £4m net cash achieve ....