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Last Updated: Friday, 3 March 2006, 09:53 GMT
Cost rises eat into Rank profits
Mecca bingo hall
Rank sees positive signs for Mecca
Leisure group Rank has blamed cost rises for a drop in profits at its Mecca bingo and Grosvenor casinos.

The group posted annual profits of 85.4m, against 98.8m last year, but insisted there had been positive recent trends at the two outlets.

Rank still hopes to find a buyer for its Deluxe DVD and CD manufacturing and distribution business, put on sale in 2005 with its Deluxe film services.

Outgoing CEO Mike Smith admitted group operating performance had been "mixed".

Operating profits were down by a tenth to 105.8m in the gaming division, but this was offset by a 24.7% gain for its Hard Rock Cafe division, which operates from more than 120 sites worldwide.




SEE ALSO:
Bingo costs squeeze Rank profits
02 Sep 05 |  Business
Rank 'set to sell off film unit'
20 Feb 05 |  Business
Rank mulls spin-off of film unit
03 Sep 04 |  Business


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