The casino and bingo operator Rank Group has published a trading statement today and the squeeze on consumers is evidently being felt by the company. Revenues in physical venues are under pressure with the Grosvenor casinos faring the worst as high value players stay away and although solid growth is being seen over digital channels, profits for the full year are tipped to come in at £76-£78 million. That’s going to be a shade below the previous year’s figure of £79.7 million – it’s hardly profit warning territory, but will make uncomfortable reading all the same.
Industrial hire service HSS has published its full year results this morning and as had been expected, 2017 proved to be a painful year of trading following some significant operational changes. At first pass the numbers don’t look great but splitting the year into two does show improvements in the second half. The question is whether the momentum can be maintained – and can the further promised cost savings be realised in full.
There’s a quarterly update from Hammerson out this morning. The company develops and operates retail properties across the UK and Ireland, and as we’ve noted many times of late this sector is struggling. However the update points towards the fact that its positioning in the luxury space and exposure to France and Ireland is helping deliver decent results. Foot fall over the Easter weekend at the company’s properties was also up on last year, bucking the wider trend for retail. With the potential of merger activity too, Hammerson could be an exciting stock to watch in 2018.