Mecca Bingo Profits Down 8%

The Financial Times have a piece on the Rank Groups profits for last year, that sees the trend of losses continue. Rank chief executive Ian Burke mentions that 2008 will be a “challenging year” for business. As a part of their plan, the group has sold their pension plan to Goldman Sachs, which will free up around £31 million a year as well as getting a one off payment of £20 million.

Overall, the groups profits dipped by nearly 3% on the previous year, with the Mecca Bingo division’s profits dropping by 8%. This is about what analysts has expected, and the piece ends with a note of positivity, with the analysts at Evolution stating that whilst Rank is not “out of the woods,” things look to be improving. this of course will make the prospects of a take over at Rank all the more likely.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Pin It on Pinterest

Share This

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.