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Rank Group Q1 Trading In Line With Expectations

Rank Group Plc (RNK.L), on Thursday, announced that trading is in line with expectations, with like-for-like net gaming revenue or NGR up 69% for the first quarter ended 30 September 2021.

On a channel basis, digital NGR grew by 5% and venues like-for-like NGR grew by 117% YOY.

Based on the company's current trading performance, an expectation of continued improving performance across all businesses and assuming venues remain fully open, management said it expects Group LFL NGR for the year ended 30 June 2022 to be in the range £700 million - £750 million and EBIT to be between £50 million and £75 million.

John O'Reilly, CEO of Rank, said, "...Whilst forecasting remains difficult as we emerge from the pandemic in an environment of volatile costs and numerous supply chain challenges, we are confident that trading will continue to improve across each of our businesses during the remainder of the year."

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