Winter of growth for The Rank Group

The Rank Group revealed a winter of growth on Thursday, with like-for-like revenue up 3% in the 19 weeks to 8 May, total revenue growth of 2% and digital revenue growth of 6%.

Of its brands, the FTSE 250 firm said Grosvenor Casinos saw 4% growth in like-for-like revenue and 3% total revenue growth.

At its physical venues, Grosvenor saw like-for-like revenue grow by 2%, primarily driven by performance in London. Overall customer visits were stable, and spend per visit increased by 2%.

Its digital channel again vastly outperformed the venues, with revenues up 35%. Rank put this down to ongoing customer growth and improved functionality from its new digital platform.

The company’s other brand, Mecca, saw like-for-like revenue grow 1%, but total revenue take a dip 1% into the red, reflecting previously-announced venue closures.

Its venues specifically delivered 3% like-for-like growth, driven by recent improvements in products and service. Total venues revenue was flat, and like-for-like customer visits were down 1%.

Digital revenue dipped 5% during the period as a result of disruption following the recent platform migration.

The board said new content and functionality was now being rolled out, which it expected will have a positive impact on performance

"I am pleased with the group's performance during this 19-week period. We have seen continued like-for-like revenue growth across all of our brands and the performance in our Grosvenor digital business has been particularly encouraging,” said Rank Group chief executive Henry Birch.

"During the period we launched our new digital platform which was delivered both on time and on budget. This is an important development for the group and we look forward to the benefits the increased functionality will bring."

Looking ahead, Rank’s board said it is encouraged that both brands managed to make like-for-like progress, and expected full-year performance to remain in line with previous expectations.