Rank Group sees lower full year profit, cautious on UK consumer outlook

Rank Group sees lower full year profit, cautious on UK consumer outlook

(Reuters) – British casino operator Rank Group Plc (L:RNK), whose chief executive Henry Birch resigned last month, said it expects lower profit for the full year as it remained cautious about consumer outlook in the UK.

The company said it expects full-year operating profit of 76 million pounds to 78 million pounds as it expects its UK venues business to be impacted for the remainder of the 2017-18 financial year and into 2018-19.

In comparison, the company reported an operating profit of 84.5 million pounds a year earlier.

Rank also reported a 2 percent fall in like-for-like revenue for the 13 weeks to April 1.

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