Rank revenues hit by UK snow after H1 profit dips

LONDON Thu Jan 31, 2013 2:09am EST

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LONDON Jan 31 (Reuters) - Bingo hall and casino operator Rank Group said a snowy January in Britain had cost it 3 million pounds ($4.7 million)in revenues after its first half profit dipped 4 percent.

"Allowing for the slow start to the second half we remain confident in our prospects for the remainder of the year and in our longer-term growth strategy," Chief Executive Ian Burke said.

Profit before tax slipped to 31.3 million pounds in the six months to end-December for Rank, majority owned by Malaysia's Guoco.

The company said the decline was because of increased spending on marketing its Blue Square betting business and higher operating costs at its Mecca bingo halls.

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