Rank recovers from tough first half

Hard Rock Café chain owner Rank today forecast annual results in line with hopes after its gaming and betting arms recovered from a challenging first half.

London-based Rank, which owns bingo halls and casinos, said the Hard Rock Café chain had performed well, with profits significantly higher than last year.

But its troubled film and media arm still reported weak sales, with the number of DVDs sold below expectations for the busy pre-Christmas season. Deluxe Media is expected to make just a modest contribution to operating profits this year.

Rank is considering options that could involve selling off the division, but will not give an update on the plans until February.

The group saw its profits fall by around half in the six months to June 30, but today said both its gaming and betting businesses returned to strong growth over the following 22 weeks.

Rank more than 100 Hard Rock Cafes in 38 countries.

Analysts are expecting Rank to post pre-tax profits of between £160.2m (€232.2m) and £171.1m (€248m) for the year, compared with £193.7m (€280.7m) last time.