Improved Sales At Mecca Whilst Gucco Increase Their Stake - Old News Archive
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Posted On: Friday, 17 October, 2008
Some good news in these times of credit crisis and financial turmoil for Rank. They've seen an improvement in sales, with a rise in spending per person of 8%, and better overall sales of 2%. I won't go into the financials here too much, you can get all the figures and background over at the Telegraph. This will come as good news given the drastic down turn in sales through the earlier part of the year.
It's also worth mentioning that the Malaysian group Gucco have increased their share holding to 24.1%, and there must be serious thought of a takeover attempt soon, given they now own nearly a quarter of Rank's shares. The news of both Gucco's stake and the improved trading figures has helped to give Rank's share a little boost, seeing them up 8% to 60p. Let's hope they can keep risen with all the ups and downs in the stock market, but having a few shares myself, I would say that, wouldn't I?
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