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23 Jun 2010 07:55
23 June 2010
Rank Group response to Budget statement
The Rank Group Plc ('Rank' or the 'Group') has noted the changes to taxation contained within yesterday's Budget statement from HM Government.
The Group anticipates that the increase in the standard rate of VAT and changes to the National Insurance regime will result in a net cost increase of approximately £2.5 million from 2011. This represents Rank's initial assessment and management will seek ways to minimise the impact on earnings.
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The Rank Group
Dan Waugh, director of investor relations +44 (0)1628 504 053
Financial Dynamics
Ben Foster/Marc Cohen +44(0)20 7831 3113
About the Rank Group
Rank is a leading European gaming business, head-quartered in the UK and listed on the London Stock Exchange (RNK.L). The Group's principal activities are: the operation of bingo clubs and casinos in the UK with complementary on-line gaming and bookmaking services. For more information about The Rank Group, visit www.rank.com.
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