LONDON (dpa-AFX) - Shares of Rank Group plc (RNK.L) were gaining around 5 percent in the early morning trading Casinos and gaming company Thursday said it now expects fiscal 2020 underlying operating profit pre IFRS16 to be above current market expectations.
In its trading update, the company said underlying operating profit pre IFRS16 for the year ending June 30 would be 105 million pounds to 115 million pounds. The current market consensus range for underlying operating profit pre IFRS16 is 93 million pounds to 103 million pounds.
The outlook reflects further positive trading in Digital and the Grosvenor and International venues businesses, underpinned by cost savings from the Transformation Programme.
Underlying operating profit for the year would be 113 million pounds to 123 million pounds.
Rank will announce its interim results for the six months ended December 31, 2019 on January 30.
In London, Rank shares were trading at 280.37 pence, up 5.01 percent.
Copyright RTT News/dpa-AFX