August 22, 2019 / 5:42 AM / 24 days ago

Rank Group full-year profit falls 22%

Aug 22 (Reuters) - Casino and gaming operator Rank Group Plc on Thursday reported a 22% slump in annual operating profit, hit by a drop in sales and traffic at its casinos and bingo halls earlier in the year.

The company said a recovery in the second half of the year, fuelled by its initiatives, failed to offset weak performance in the first half.

Operating profit for the year ended June fell to 39 million pounds ($47.3 million) from 50.1 million pounds a year earlier.

Revenue rose 1%. ($1 = 0.8249 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Sriraj Kalluvila)

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