StockMarketWire.com - Bingo company Rank said group underlying net gaming revenue grew by 10% to reach £377.5m, while underlying operating profit soared 70% to £55.1m during the six months to 31 December 2019, in which it completed the acquisition of Stride Gaming.

In its interim results, Rank announced that reported net gaming revenue and operating profit also grew in the period, up 14% to £397.4m and 117% to £56.1m respectively.

The Stride acquisition completed on 4 October last year, and post-completion Stride contributed £18.1m of net gaming revenue and £1.4m of operating profit in the half year period.

Rank chief executive John O'Reilly said: 'We are pleased with the group's first-half performance which demonstrates that the transformation programme is delivering the right results.

'The revenue growth in our digital business and across our Grosvenor and Enracha venues shows that we are moving in the right direction in key areas of our business.'

He added: 'The successful integration of Stride into our business will ensure that we benefit from strong synergies, proprietary technology and a first-class digital team, all of which will position us well for the second half of the year.'


At 9:09am: [LON:RNK] Rank Group The PLC share price was +8.25p at 288.75p



Story provided by StockMarketWire.com