Member Info for MaryBr190

AGM Trading Update and Directorate Change

Feargal O'Rourke appointed as an independent, Non-Executive Director

Dublin, London, 15 August 2024: C&C Group plc ('C&C' or the 'Group') provides the following trading update ahead of the Group's Annual General Meeting ("AGM"), which will be held later today. C&C also announces the appointment of Mr Feargal O'Rourke as an independent, Non-Executive Director with effect from the conclusion of today's AGM.

Trading Update

Group earnings have been in line with expectations in the financial year-to-date, despite the well-documented poor weather in June, more detail of which will be provided in our FY2025 Half Year Trading Update on 9 September 2024. We remain confident of achieving our earnings expectations for the full year, reflecting significant growth relative to FY2024, and reaffirm our commitment to recommence our second €15m tranche of our share buyback programme from 1 September.

The Group previously communicated its intention to deliver at least €150m to shareholders over the next three years ending in February 2025, 2026, and 2027 through an appropriate mix of share buybacks, dividends and special dividends depending on prevailing circumstances. C&C commenced a €15m share buyback programme on 1 March 2024 which has been completed. The Group will commence the second tranche shortly. Subject to shareholder approval today, the Directors have also proposed a final dividend of 3.97 cent per share. An interim dividend of 1.89 cent per share was paid in December, making a full year dividend of 5.86 cent per share.

FY2025 Financial Reporting Calendar

Following a review of the Group's Financial Reporting Calendar we are proposing to provide market updates in a consistent and timely manner through the FY2025. Our reporting calendar will comprise of four updates to the market as follows:

· First half Trading Update: 9 September 2024

· Interim Results: 29 October 2024

· Pre-Close Year End Trading Update: 3 March 2025

· Preliminary Results: 27 May 2025

It is the Group's intention to maintain this Financial Reporting Calendar in subsequent financial periods.

Will buy any dip

Headline loss vairance included known 41m exit costs re Auth Brands and a comparison 29m variance due to foreign exchange, A PY currency gain of 25m was not repeated the curent year was a small loss 4m.

GL. Nothing new so mms will have fun.

Current trading and outlook

We have made a good start to the new financial year. We exited 2023/24 with good momentum which has continued into 2024/25, with Group NGR up 10% for the first 6 weeks against a strong comparative.

Dividend

The continuing recovery in profitability combined with the Group's balance sheet strength gives the Board the confidence to propose a resumption of ordinary dividend payments. The Board is recommending a final dividend of 0.85p as a full year dividend.

The Group is also intending to declare an 2024/25 interim dividend alongside its half year results in January 2025.

John O'Reilly, Chief Executive of The Rank Group Plc said:

"This has been a year of strong financial, operational and strategic progress for Rank. We are continuing to rebuild profitability following the impact of lockdowns and the material inflationary pressures experienced in recent years. Trading continues to improve due to ongoing investment in our people, our products and the facilities within our venues businesses, and the continued development of the proprietary technology which is driving the growth of our digital business.

With some important developments within our proprietary technology now in place, we are increasingly delivering a seamless and tailored cross-channel experience for our customers, leveraging our key area of competitive advantage.

We are well-positioned to take advantage of the much needed land-based reforms which will help to further modernise our casino and bingo propositions to better meet the expectations of today's customers and we look forward to the Government confirming the timetable for the required secondary legislation.

We have started the new financial year as we finished the previous one, with good momentum across all businesses. With inflation receding, disposable incomes improving, investment continuing to be made in the customer proposition and a strong pipeline of growth initiatives underway, we are confident in the future prospects of the Group.

It would not be possible to deliver this improved performance without our excellent colleagues who continue to excite, entertain and protect their customers, support their local communities and contribute fully to the progress we are continuing to make."

The Rank Group Plc ('Rank' or the 'Group')

Preliminary results for the 12 months ended 30 June 2024

Delivering against the strategic plan with growth across all businesses

Rank (LSE: RNK) is pleased to announce its preliminary results for the 12 months ended 30 June 2024.

Overview

·

Like-for-like ('LFL') Net Gaming Revenue ('NGR') grew 9% year on year with all businesses in growth.

·

LFL underlying operating profit for the year was £46.5m, slightly ahead of analysts' consensus and more than double the prior year's £20.1m, reflecting the significant operating leverage in the business.

·

LFL underlying operating profit continues to rebuild with £24.8m in H2, up 14% compared with £21.7m in H1.

·

Strong trading in Q4, with LFL NGR increasing 14% year on year, providing good momentum into 2024/25.

·

Net cash pre IFRS 16 at year end was £20.9m, reflecting stronger cash flows as trading improves.

·

Group's strong balance sheet position is supported by debt facilities of £120m comprising £30m Term Loan to October 2026 and £90m Revolving Credit Facility ('RCF') to January 2027. The total undrawn RCF at 30 June 2024 was £78.5m.

·

The Group has continued to invest in its c.7,600 employees with employment costs increasing by 11% in the year, driven by the combined effect of wage inflation and the reinstatement of colleague bonuses. Employment costs are the key headwind for the Group in 2024/25 and are expected to increase by a further 7%.

·

Total capital expenditure in the year was £46.7m, with key investments delivered across the Group's venues and proprietary technology. We expect total capital expenditure for 2024/25 to be c. £60m.

·

Good progress continues to be made within the Group's ESG programme with the net zero plan well underway, key technology developments delivered in the year to further enhance protections for our customers, record colleague engagement scores recorded in the period and a continued strong focus on the role we play within the local communities in which we operate.

·

The Board is recommending a final dividend of 0.85p per share. The resumption of dividend payments to shareholders reflects the Board's confidence in the improving trading and financial position of the Group.

Never bail on a markdown. Roll on 7am.

@jw

It's not an issue. Growth phase and interest rates falling in near future.

Panic buying g perhaps, before the SP shoots up after the ST uncertainty subsides.

Looking at the chart, how did this ever achieve £26.69 om November 2015. Ouch.

Let's see £2.50 again

Make

Vanq

Great

Again !

True, tomorrow will be fun one. Wide spreads and restricted order sizes.

Followed this for years 0 the mms hate to miss out on sucking in a few punters.

As predicted endofdayrallystarting70/72:) 76p finish?

Ceasefire moves

The Times of Israel is liveblogging Wednesday’s events as they unfold.

9min ago

Mossad, Shin Bet heads to lead Israeli team in Doha talks — report

By AFP and ToI Staff

Mossad head David Barnea, Shin Bet chief Ronen Bar and military envoy Maj. Gen. (res.) Nitzan Alon will be dispatched by Prime Minister Benjamin Netanyahu tomorrow for talks aimed at reaching a truce and hostage release in Gaza, Channel 12 news reports.

A US source familiar with the negotiations says CIA director William Burns is scheduled to take part in the talks.

However it remains unclear if Hamas will participate.

The talks will be held in the Qatari capital of Doha, according to a source close to Hamas and a second source close to the talks.

Https://www.timesofisrael.com/liveblog_entry/rockets-slam-into-kiryat-shmona-without-warning/

There are 10,000 of the all-you-can-fly memberships available.

Nature of the transaction

Acquisition of Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

GBP 2.15413

Volume(s)

11,543

Going for gold

Nice.

A payday will come finley!

Not expecting that but it would be a nice fillup. I token 1p perhaps?

(2024 0p 2025 2p 2025 3p per marketbeat forecasts)

Dividend

The Board has not proposed an interim dividend but expects to recommence dividend payments as

soon as circumstances permit.

Shore Capital, which has a ‘buy’ rating on Rank, called the trading update “encouraging”.

It continued: “We see no change to full-year forecasts and continue to see the potential, including from proposed gambling reform, for profitability to reach £100m over the medium term.

“The standout was arguably Mecca, although solid progress was seen at Grosvenor and its core digital brands.”

I noted the 1st break down was 240 before the further all to 215 and then exhausted around 208p The 220p + should come soon again (hit it earlier this am) and onwards to 240p. (provided no ME strike today)