Rank Share Discussion Threads

[grizzly bare] 21/8/2009 16:44

Well lets hope magenta uptrend support holds and we bounce next week.

Blue line is ftse 250 and gap has now closed completely.




free stock charts from www.advfn.com


Grizzly xx

[grizzly bare] 21/8/2009 16:39

So Rank closes red amongst a sea of blue.

grizzly xx

[quidnunc] 21/8/2009 13:57

The bastids didn't wait. Marked it down and went off for an early lunch.
Q.

[grizzly bare] 21/8/2009 08:35

Q - probably preparing for the usual late Friday afternoon markdown by the mm's!

Grizzly xx

[quidnunc] 21/8/2009 08:30

Well it might've bounced off support. Early day, early days.
Q.

[grizzly bare] 20/8/2009 19:17

Magenta line hopefully shows bottom support of recent uptrend



Grizzly xx

[grizzly bare] 20/8/2009 14:14

Rank in black v ftse 250 in green ......gap closed again.


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Grizzly xx

[grizzly bare] 18/8/2009 14:06

Q - I fear you may be right. But lets hope not!

Grizzly xx

[quidnunc] 18/8/2009 10:50

I'm personally of the view that a second dip is in the offing.
Q.

[grizzly bare] 18/8/2009 09:43

Q - well the taxman and vatman are an uncertainty with the government needing to raise more money and the vat case undecided. But I think the bigger worries at the moment are the uncertainties over the economy and whether we are going to have a double dip recession. The USA consumer confidence figures from Friday didnt help the market yesterday and we do seem to continue track the ftse 250 pretty closely. So I think our fate at the moment lies with the ftse250.

Ftse250 in blue


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Grizzly xx

[quidnunc] 18/8/2009 08:01

Still well above the clouds so no particular worries at this point. Clear blue skies are a distinct possibility. I think its the threat of the continued attentions of the taxman and vatman that dampen sentiment a little.
Q.

[grizzly bare] 14/8/2009 16:43

Well there we go ...what a suprise ....76.25p close wiping out todays gain.

Have to try again next week.

Grizzly xx

[grizzly bare] 14/8/2009 14:50

Wow ...up 4.1p (5.4%) to 80.4p at 2.30pm.

Would be nice to think it will hold for the rest of the afternoon, but the mm tend to mark Rank down most Friday afternoons for the weekend. We'll see.

Grizzly xx

[killieboy] 14/8/2009 14:48

I think maybe it is those who sit at PCs all day who need to find a life. PS Off for a swim BYE BYE

[guidfarr] 14/8/2009 14:05

yeah and we are don't look very nicely to someone trying to slag off a long-time follower of a stock so find a life......

[quidnunc] 14/8/2009 12:49

Its just you by the looks of things!

[grizzly bare] 14/8/2009 10:42

Well we've gone over 80p intraday today and dropped back, but we need to close above 78p interday. But will we?

Grizzly xx

[quidnunc] 14/8/2009 07:48

Nice piece. Well balanced and, in this economic climate, practically an acclamation.

[grizzly bare] 13/8/2009 16:53

guid - interesting post. Thanks.

Grizzly xx

[scrapman] 13/8/2009 15:26

duplicated post

[scrapman] 13/8/2009 15:26

wow, second almost positve comment this year , !!!

[guidfarr] 13/8/2009 14:02

Moody's Highlight UK Gaming's Tax Sensitivities
13 Aug, 2009 / GamblingCompliance Ltd. / Scott Longley
The UK gaming sector's vulnerability to changes in the tax regime has been underscored by a new report from analysts at ratings agency Moody's.
In a report on Rank, the Moody's team suggest the UK-listed gaming operator has improved its performance sufficiently for its ratings outlook to be moved from negative to stable.

But the report warned that the firm – along with the rest of the industry – is operating in a tax environment that remains "volatile" and that adverse changes, such as the increase in bingo tax announced in the 2009 budget in April, remain a very real possibility when the parlous state of the UK's finances are taken into account.

"Rank's credit profile... continues to be impacted by uncertainties regarding taxation," said Moody's senior credit officer Chetan Modi. "The [bingo and other gaming tax] increases also reinforce the vulnerability of the gaming sector as a relatively easy target at a time of straitened government finances."

Modi added that a further risk lies down the track with the ongoing consultation taking place on the part of the government over the move to change gaming machines to a gross profits tax regime. "Although the government has indicated that these are intended to be revenue neutral, different businesses are likely to be impacted in different ways."

Taxation worries aside, Rank has been rewarded by Moody's for its efforts in putting operational performance back on the road to recovery. Moody's has retained its B1 rating on Rank, but has removed the negative outlook it placed on the company in June last year. Modi said the progress shown in Rank's recent half-year results lay behind the move, along with the stated commitment from the company to continue reducing its leverage.

At the time of the interims, Rank said it had reduced its net debt to £208m from £273m at the end of June 2008. Moody's noted that the pared back figure was primarily due to the £59.1m VAT refund on interval bingo received from Her Majesty's Revenue and Customs in November last year. But the analysts noted that the firm had also generated some "modest positive free cash flow" in the first half of this year.

Leading the way out of the gloom for Rank has been its casino division Grosvenor which saw its revenues rise 4 percent in the first six months, while operating profit was up 18 percent. Nevertheless there was weakness elsewhere in the business with attendance down at Mecca Bingo – continuing a long-term trend – and the Blue Square online business and Top Rank España also disappointing.

Said Modi: "Rank is attempting to address these challenges with various senior management changes and a more focused marketing approach, although material improvements may take some time to be evidenced."

Moody's warned that the VAT decision is still working its way through the appeals court, but add that Rank's other VAT claims – including a £26m claim on slot machines – would result in a material benefit for the company should they be successful.

Moody's say Rank's upcoming debt maturities are a £150m bank term loan and a £250m revolving credit facility, both due in April 2012. It adds that £170m of the revolver is undrawn, that the company had cash of £54m as of the end of June, and should continue to generate modest free cash flow.

[grizzly bare] 12/8/2009 17:08

Hopefully consolidating for a launch on April interday resistance of 78p.

Grizzly xx

[quidnunc] 12/8/2009 08:09

Every morning they mark it down.
Q.