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Share Name Share Symbol Market Type Share ISIN Share Description
Rank Group Plc LSE:RNK London Ordinary Share GB00B1L5QH97 ORD 13 8/9P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.80 1.62% 175.80 176.00 177.00 177.80 172.00 172.20 122,687 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 329.6 -107.3 -16.5 - 823

Rank Share Discussion Threads

Showing 4326 to 4349 of 4550 messages
Chat Pages: 182  181  180  179  178  177  176  175  174  173  172  171  Older
DateSubjectAuthorDiscuss
01/3/2011
11:05
Peel Hunt 28 February 2011: Rank Group (Buy, TP 160p from 145p) - Upgrade post final results The reinvention of Rank into a focused company with a track record of overdelivery continued with last week's final results. Adjusted PBT came in 4% ahead of our forecast (which we had already upgraded twice during the year). Given that the December snow probably cost over £2m of lost profit at Mecca, the 2010 result was even more impressive. 2011 has started solidly with LFL sales up 2% at the group level. Grosvenor is off 6%, but this is the result of a below-average hold in the London casinos; visits are actually up 16% across the division. The interest charge will be higher than we originally expected, and this is largely because of the forthcoming refinancing. As a consequence, we are putting through a 3% upgrade to our EBITDA forecast for 2011, but after the higher interest charge this equates to a 1% rise at the PBT level. The company has guided to a lower tax charge, so the advance at the EPS level is 3%. While this is not a spectacular increase, Rank has consistently outperformed (in the underlying business) over the past few years and a further upward revision to forecasts is possible. We are moving our target price to 160p from 145p, reflecting the benefits to cash flow from the lower tax charge going forward and the marginal upgrade to numbers. At 160p, the prospective EV/EBITDA would be 7.7x for 2011E, falling to 7.2x to the following year. This is supported by a sum-of-the-parts valuation and DCF. Furthermore, this does not include the potential receipt of further tax claims, which could be worth at least £65m. Rank presents both a recovery story (Mecca and Interactive) and expansive growth (casino). Management has done an excellent job in a difficult market and with debt falling and strong cash generation, it has the weapons to maximise the opportunity. Buy. Rank Group - changes to forecasts ............................2011E................2012E Y/end December (£m) Previous New Change Previous New Change EBITDA................93.0...95.6...3%....96.6...98.6...2% PBT...................56.1...56.4...1%....58.8...59.9...2% EPS (p)...............10.1...10.4...3%....10.4...11.2...8%
loganair
25/2/2011
15:15
Rank believes that it is prudent to retain balance sheet flexibility until such time as appeals from Her Majesty's Revenue and Customs ('HMRC') against the Group's VAT refunds are fully and finally resolved. We expect the European Court of Justice to deliver a final ruling in this matter within the next 18 months. Peel Hunt were remarkably accurate with their 2010 estimates. Est Adj PBT £53m Actual £55.2m Est Adj EPS 9.7p Actual 10.2p Est Divi....2.4p Actual..2.4p increasing by 23% over last year. With a Final Dividend of 1.66p to be paid on 04 May 2011, on the register by 01 April 2011. And also Net debt of £123.4m down from £186.8m last year 2009. Overall I think a very good set of results.
loganair
22/2/2011
19:14
Rank sets out to discover home truths - By Rose Jacobs Rank Group, the company behind Grosvenor casinos and Mecca bingo, has become the latest UK group to employ immersive market research to better understand its customers. Rank is sending senior staff into the homes of customers to probe daily habits that would sometimes seem to have little to do with its products and services. In addition to long interviews, researchers photograph the subjects at home, travel with them on their journeys to bingo clubs or casinos and observe them throughout their visits. The process can take six hours or more. And yet while qualitative market research – of which immersive observational studies are one part – is usually more time consuming and expensive to conduct than quantitative surveys, it now takes a chunk of many R&D budgets. "Qualitative research has grown as fast if not faster as a proportion of the total," said Ben Page, chief executive of Ipsos Mori, the UK arm of global research group Ipsos. He estimates that 15 to 20 per cent of his company's work is qualitative. Unlike other companies, however, Rank wants its top executives to take part. Ian Burke, chief executive, has already spent a day following a couple from their home to one of the company's casinos and observing them there. "At Mecca, there are already back-to-floor initiatives [in which head office staff work at the clubs]," said Jon McPherson, Rank's group head of insight and analytics. "But immersion with a customer is very different from seeing things through the eyes of the employee." The push follows a year in which Rank stemmed a decline in Mecca revenues by getting customers to spend more per visit – in part through new offerings, such as food and drink table service and "After Dark" bingo, a looser form of the game. Luring more people in is the next task – and one Mr Burke has said cannot be accomplished without a better understanding of why people go to bingo halls. Mecca has paid out ... £500,000 during 2010 on "customer insight". Rank spent £1.5m ($2.4m) during 2010 – about 2 per cent of operating profits – divided equally between qualitative and quantitative approaches. "It's been Ian's passion," said Mark Jones, managing director of Mecca. "It's not just research, it's 'insight', which is more intrusive, but in a positive way." Mr McPherson hopes even to involve Rank Interactive, the group's online division. "We have good technology for measuring how people move around a [web] page, but we don't know if people come home, put the children in bed, make a cup of tea and then sit down at the computer." He admits these immersions could be difficult to arrange. The Mecca research might involve two hours in a customer's home before going to the club, but with Rank Interactive it may mean "staying in the customer's spare bedroom".
loganair
22/2/2011
17:39
21st February Peel Hunt: Rank (Buy, TP 145p) Preview of final results, Friday 25 February The group is due to report final results on Friday 25 February. Despite the impact of the snow in December, we expect the group to deliver profits in line with our expectations of £53m, up from £48.5m last time. Grosvenor will be the star of the show and we are looking for operating profits to rise 17% to just over £36m. This growth is being driven by volume and positive like-for-like sales, with the G casino format working well. There is a pipeline of new sites and conversions and, while like-for-like benchmarks will get more demanding, we expect further growth in the current year. For Mecca, it is a case of stability, with profits likely to be down by £1m to £31.3m. Without the impact of the snow in February and December last year, the result could well have been flat. Management is still experimenting with the Full House concept, but at some point more detail will be needed if the market is not to become frustrated at the lack of progress. Nevertheless, we believe that management will get Full House right and that the opportunity across the estate could be significant. In the meantime, there is the potential for more favourable machine legislation that should boost the business. In Spain, we expect flat profits at TR Espana (£5.8m). Profits from the Interactive division will be influenced by the timing of investment/marketing spend but we are expecting a flat (£7.5m) outcome for the year. Bingo will be the star and at last Mecca is beginning to punch its weight online. Blue Square is another story and although helped by a World Cup, we wonder about the long-term future of the business within Rank. We expect the current trading statement to be positive, with the absence of snow a factor. Evidence from other leisure businesses suggests that the consumer is still active and we do not see why this shouldn't be the case for Mecca and Grosvenor. Management has done an excellent job at Rank against a challenging economic backdrop. Organic opportunities present themselves for both Grosvenor (non operating licences and new licences) and Mecca (Full House and positive legislation). After a strong run, we are not surprised that the shares have paused for breath. Positive legislative developments, new licenses and positive progress with Full House are all catalysts that could see the outperformance resume. Y/E...Dec..2009A.2010E.2011E.2012E Sales.(£m).540.0.574.2.593.3.612.1 EBITDA.(£m).83.9..89.5..93.0..96.6 Op Margin(%)10.7..10.5..10.6..10.7 Adj PBT(£m).48.5..53.0..56.1..58.8 Adj EPS.(p)..8.9...9.7..10.1..10.4 EPS growth(%)22.6..8.6...4.4...3.2 DPS.(p).......1.4..2.4...2.7...2.9 PER.(x)......14.4.13.3..12.7..12.4 Div yield.(%).1.0..1.8...2.1...2.2 FCF yield(%).14.9.12.8..11.6..12.2 EV/EBITDA(x)..8.2..7.1...6.7...6.3
loganair
10/2/2011
22:50
Interesting stat for sure - I'm guessing it's Bingo related? Not that many Poker females (% wise) and sports betting is usually male dominated too (cricket, footy, F1 e.g). Good for Rank if correct I guess.
thorpematt
09/2/2011
13:54
Quite interesting. At 04.30 this morning on Radio 4 I was listening to the founder of BWIN, the Austrian on-line gaming company. He said how before he started BWIN he popped over to see Ladbrokes, Coral and Rank, all of who already had on-line gaming and how surprised he was in less than 2 years BWIN's market cap. had over taken the lot. He then went on to say the big problem with too many UK companies is that due to the average age of their directors they were good at managing decline but not at rejuvenating their said companies. And this is why directors need to be under the age of 45 years as they are better able to cope with change and modernizing companies. Something I didn't know, that except for the UK, 97% of on-line gamblers are male were as in the UK it's approxiamtely 50/50 male/female.
loganair
09/2/2011
11:58
Thanks Killie for info.
grizzly bare
09/2/2011
11:58
Hi All .... Only a short term involvement with Tops Tiles logan. A bit of in and out. Back in uk at present. Sold out of Rank far too early at 101p but had bought in at average of 80p so shouldn't complain. Chasing 888 now but should have stuck with Rank with hindsight! That's life. Grizzly xx
grizzly bare
08/2/2011
22:12
he's on the 888 thread now and i'm with him there as i'm invested heavily on that stock :) Looking 2 years back it seems 888 and RNK have now exchanged valuations.
guidfarr
08/2/2011
15:24
ahh old Griz , seems an age since we were sat waiting for the Guoco move , Griz adding his input , will be in the LOS next month , if the bid comes , I will have to look him up
scrapman
08/2/2011
10:21
I'm still sitting and waiting!!! & old Grizzly Bare is often to be seen in the wilderness of Topps Tiles (TPT).
loganair
08/2/2011
08:10
very quiet on here , any one any good bid ramps ,,,,,,,,,,,,,,,,,,
scrapman
21/12/2010
16:54
Not sure if it's relevant , but may be setting a line in the sand for HMRC , taking a combative view. Wish Guoco , would just get on and make a move ,,,,, =========================================== HMRC has rejected a claim by Sportech Plc for the repayment of more than £40m in overpaid VAT. The claim, filed in April, related to VAT on the 'Spot the Ball' game offered from 1979 to 1996, which Sportech maintained was paid in error. The company now has 30 days to lodge an appeal, which it says it intends to do.
scrapman
19/12/2010
18:48
Ladbrokes in preliminary discussions with 888 re £240M takeover - should stir things up sector-wide tomorrow.
killieboy
19/12/2010
10:41
recent tip in IC apparently (fwiw )
scrapman
15/12/2010
09:18
Dare I even think it. If there is not a take-over by Guoco, could we be looking at 200p some time next year??? If so then Burke who purchased 100,000 shares at 100p each will be sitting on a nice fat profit of 100% or £100,000 in a little over a year.
loganair
14/12/2010
19:04
breakout - that's all :-) CR
cockneyrebel
14/12/2010
16:42
Something going on here - any ideas?
killieboy
13/12/2010
15:55
just seen something about Genting rescheduling debt , wonder if it's an opportune time for Guoco to step in and do the honourable thing ( and not before time )
scrapman
09/12/2010
17:46
At least everthing is going in the right direction, even if it's just ever so slowly a penny hear and a penny there. Also looking at the dividend, this year as we know is 1.35p the forecast for next year is 2.27p and the year after 2.80p.
loganair
09/12/2010
08:56
would be nice to see us through 1-50 again , seems like reasonable results , but not had any effect as yet,
scrapman
08/12/2010
19:26
Panmure Gorden, an excellent increase in their Target Price. 06-Dec-10 Panmure Gordon Buy Target Price 173.00p 01-Oct-10 Panmure Gordon Buy Target Price 145.00p
loganair
08/12/2010
09:59
maybe no need for a UK listing if they have RNK ? few trades through this am , ahead of interims tomorrow,
scrapman
07/12/2010
12:16
I've been to the GuocoLeisure web site, suprised no mention of this at all? So any shareholders on the register after this date will be transfered over to New Zealand.
loganair
Chat Pages: 182  181  180  179  178  177  176  175  174  173  172  171  Older
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