LONDON (dpa-AFX) - The Rank Group Plc (RNK.L), on Thursday, issued a trading update for the quarter to 31 March 2022, and said it now expects fiscal 2022 EBIT in the range of £47 million - £55 million versus the prior guidance range of £55 million - £65 million.
Further, the company noted that the most recent comparable non-COVID-19 affected third quarter period is therefore the three months to 31 March 2019. Against that comparative period, Grosvenor venues NGR was down 14% and Mecca venues declined 25%.
For both UK venues businesses there was a softness in visits at the end of the quarter consistent with the rise in new COVID-19 cases reported across the UK, the company said. Enracha venues performance continued to recover, with NGR down just 2% compared to the same quarter in 2018/19.
UK digital NGR was down 1% year on year. Grosvenor digital grew NGR by 3%, as it continues to benefit from omni-channel players from the company's Grosvenor venues. Mecca digital NGR fell 11% due to the anticipated impact of its migration onto the RIDE platform in January. International digital was down 5%.
John O'Reilly, CEO of Rank, said, 'The performance of our venues softened in March, and this has continued into the first few weeks of Q4, impacting our current expectations for our full year performance. We recognise the pressures on UK consumers but are confident that the improvements we are continuing to make to the customer proposition and the investments in our venues, alongside the gradually reducing impact of the pandemic and, with it, the return of overseas customers, position us well for the year ahead.'
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