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Article: Rank profits fall as Mecca Bingo trade is hit north of Border
- Article from:
- Evening News - Scotland
- Article date:
- September 1, 2006
- Author:
CopyrightCopyright 2006 Evening News - Scotland. Provided by ProQuest LLC. (Hide copyright information)
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LEISURE group Rank said today that it had launched a "strategic
review" of its Hard Rock Cafe chain and cut costs elsewhere in its
business as it posted a three per cent fall in first-half profits
today, hurt in part by the smoking ban in Scotland.
Rank said first half pre-tax profits came in below City
expectations at GBP 40.7 million, compared with GBP 41.9m in the same
six months of last year. Revenues were up 7.2 per cent to GBP 426.1m.
Trade at its 14 Mecca Bingo sites in Scotland was still being hit
by the smoking ban, although profits were up at Hard Rock Cafe.
However, Rank also said it would close its head office in London -
with the loss of 40 jobs - and axe a further 200 ...