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Rank Expects to Meet Expectations

2 Dec 2004

LONDON – As reported by Reuters: "British leisure group Rank RNK.L says its year results will be "broadly in line" with market expectations, and that plans to demerge its Deluxe film unit are progressing well. Rank, which also runs Hard Rock cafes, Grosvenor casinos and Mecca bingo halls, said on Thursday that Deluxe Film had seen lower than expected volumes and Deluxe Media was experiencing 'difficult trading conditions'.

"The board's investigation into the technical and commercal implications of the separation of both Deluxe Film and Deluxe Media, including discussions with key stakeholders, is progressing well," it said in a trading update.

"Turnover at the group's Grosvenor Casinos was up 12 percent for the year to date, while its Mecca Bingo halls have seen turnover increase by 3 percent this year…"

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