Rank says it obtained better results than expected
It did warn that it would take a full year to ascertain the full effects of the ban, adding that the bingo halls had benefited from ’favourable’ weather conditions this summer.
A statement accompanying the interim report said that the start was encouraging, highlighting the 17 per cent drop in revenues during the 12 months following the Scottish smoking ban.
Rank’s profit for the half-year rose to us$ 686 million, from us$ 19. 2 million in 2006, due to its sale of the Hard Rock business in March, while adjusted profit before tax was us$ 74.8 million. Group operating profit from continuing operations, before exceptional items, was listed as us$ 96.1 million.
CEO Ian Burke said the UK gambling market had entered a “dynamic phase in its development” which was being driven by changes in social attitudes, the modernisation of gambling laws, advances in technology and investment in modern licensed gaming premises.
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