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Rank Group lowers full year earnings guidance as UK venues struggle

21st April 2022 10:27 am GMT
Rank Group
Greentube

Shares in Rank Group fell by more than 8 per cent in London Thursday morning after the casino and bingo operator cut its earnings forecast for the current financial year.

Rank lowered its previously estimated earnings before interest and taxation (EBIT) to £47m-£55m for the year ending 30 June 2022, down from the previous range of £55m-£65m, following softness in UK venues towards the end of the third quarter and continued inflationary costs.

This lower earnings estimate [...]

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