Rank Group Defies Brexit With Impressive Profit Increase
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Rank Group defies Brexit with impressive profit increase
While Brexit has rocked a number of major online gambling industry names, it seems that Rank Group has managed to remain strong. In fact, it can even be argued that Rank Group has gone beyond what it was expected financially speaking, as it posted a profit increase of 15% during the financial year. Coming about through a fresh digital-focused strategy, it appears that Rank Group is defying doubters across the board.
The report, which details final results for the year to 30th June, shows that their profit before taxation was a very healthy £85.5 million, which is a notable increase on the £74.5 million posted the year prior. Revenue for Rank Group also increased by 2% to £753 million. The figures show that, generally speaking, Rank Group had a great year, but there was a negative to note amidst the report, as there was 2% dip in the group’s operating profits, as it came in at £82.4 million before “exceptional items”.
Considering the positivity surrounding Rank Group, Henry Birch (Rank Group Chief Executive) has been quick to comment on the report, he said “I am pleased to report a solid set of results with group revenue up 2%, again recording like-for-like growth across all brands and channels in the year. This year we have focused on delivering significant projects to ensure we have the right platform in place for future growth. This included the migration of our digital business onto a new platform, the roll out