Rank Group's bets pay off in first half

(ShareCast News) - Rank Group's bets were paying off in the first half of its financial year, with all of the company's sectors showing growth in the six months to 31 December 2015.The FTSE 250 company said its group revenues were up 5% on a like-for-like basis to £370.1m, with operating profit before exceptional items up 11% to £46.1m - which excluded the impact of Remote Gaming Duty.Rank's board described its digital revneue growth as strong, up 14%, while Grosvenor Casinos revenue was up 7%.The Mecca retail bingo business was in growth, with like-for-like revenue up 2%."I am very pleased to announce a good set of results with like-for-like revenue growth across all brands and channels", said chief executive Henry Birch."Even with the impact of Remote Gaming Duty, we have delivered growth in both adjusted EPS, up 4%, and dividend, up 13%", he added.Rank was also pressing forward with its expansion and transformation plans, with its digital platform migration on track to go like by the end of the current quarter, and two new format bingo clubs to be opened this summer.It had agreed contracts with new suppliers for both a digital poker and sports book offer, and had refurbished its Luton casino to accommodate the newly-awarded licence under the 2005 Act."2016 will see us deliver significant new platforms, new functionality and new products - including a new digital platform, a new casino management system, new poker and sports betting products and a new retail bingo format - all of which will drive improvements across our company", said Birch."It is extremely encouraging that ahead of these changes, we are continuing to grow all parts of our business. In particular, it is very please to have grown Mecca's retail bingo business on a like-for-like basis, both at the top and bottom line, giving us renewed confidence in its future", he concluded.Rank's board described its dividend growth as "strong", announcing an interim dividend of 1.8p - an increase of 13%.The company's earnings per share were up 4% on the previous corresponding period, to 7.4p. Rank Group Plc