Rank sees figures come in at top end of forecasts

GAMING firm Rank Group said it expects its earning per share to be towards the top end of analysts’ forecasts for 2010, although it added that the outlook for next year remains challenging.

It said analysts’ estimates for adjusted earnings per share were 9.5p to 9.8p, with a mean average of 9.6p.

“The outlook for 2011 remains challenging with the increase in the standard rate of VAT and public-sector redundancies likely to have a negative effect on consumer sentiment in Great Britain,” the company said in a statement.

Rank, owner of Mecca bingo halls and Grosvenor casino chains, reported a three per cent gain in like-for-like revenue for the nine weeks to 5 December.

For the year to week 49, revenue was up seven per cent, or four per cent on a like-for-like basis, mainly helped by continued strong trading in Grosvenor Casinos.