StockMarketWire.com - Rank Group's revenues halved for the 12 months to the end of June, as the pandemic forced the majority of its venues to close.

For the period, group underlying net gaming revenue was £288.2 million, compared with £575.6m the year prior, while the underlying operating loss was £67 million.

Venues underlying net gaming revenue was down 65% at £151.9 million for the year.

John O'Reilly, chief executive of The Rank Group Plc, said: 'The year to 30 June 2021 was exceptionally challenging for the Group and, frankly, we are delighted it is over. We are now well into a new financial year with our venues open and trading positively. Good progress is being made in our digital businesses and there is a renewed sense of confidence as we focus on the growth initiatives within our clearly defined transformation programme.

'Rank was delivering strong revenue and profit growth before the pandemic and the steps we have taken over the last 18 months, particularly in carefully managing our liquidity and developing the transformation plans, will enable the Group to return to that growth trajectory as the impact of the pandemic reduces and consumer confidence for indoor leisure experiences grows.'

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