The Rank Group: Momentum Continues with Strong Performance Across All Business Units

 

By channel, digital NGR increased by 15%, while like-for-like venue NGR grew by 10% compared to the same period last year.

Like-for-Like NGR Q1 2024/25:

Grosvenor Venues: £95.3m (+13%)
Mecca Venues: £34.7m (+4%)
Enracha Venues: £9.6m (+9%)
Digital: £57.9m (+15%)
Total Rank Group: £197.5m (+12%)

Grosvenor venues' like-for-like NGR grew by 13%, driven by a 2% increase in visits and an 11% rise in spend per visit. The business experienced strong underlying improvement during the quarter and benefitted from better-than-expected margins. Grosvenor’s performance was consistent across both London and the rest of the UK.

Mecca venues like-for-like NGR grew by 4%, driven by a 5% increase in spend per visit, though visits were down by 1%. Visitor volumes recovered towards the end of the quarter, following slower trading in July due to sunny weather and England’s participation in the Euros.

Enracha venues in Spain continued their strong performance, with NGR growing by 9%.

Digital NGR grew by 15%, with both the UK business and Spanish operations posting 15% growth. The two key UK digital brands, Grosvenor and Mecca, increased their NGR by 21% and 23%, respectively.

Outlook:

John O’Reilly, Chief Executive, said: “We have continued to build on the momentum generated over the past year and a half, and I am very pleased with our start to this financial year. With all business units performing well, the double-digit growth in our Grosvenor venues and UK digital business is particularly encouraging. Customers are clearly enjoying the improvements we are making across our land-based estate and digital offering. Rank is now a stronger and more sustainable business, and we look forward to the land-based legislative reforms coming to fruition in 2025.”