March 18, 2020 / 4:24 AM / 18 days ago

BRIEF-Guoco Says Rank Group To Not Provide Forecast For FY Ending June 30

March 18 (Reuters) - Guoco Group Ltd:

* SINCE START OF SECOND HALF OF 2019/20 FINANCIAL YEAR, RANK GROUP HAS TRADED WELL AND IN LINE WITH GUIDANCE ISSUED ON 16 JANUARY

* VENUES IN SPAIN AND BELGIUM HAVE CLOSED FOLLOWING MOVEMENT RESTRICTIONS

* IN LAST THREE WEEKS RANK GROUP SEEN SLOWDOWN IN TRADING ACROSS ITS UK VENUES & IN RECENT DAYS IT WITNESSED A SHARPER DECLINE

* IMPACT OF UK CLOSURES WOULD RESULT IN MONTHLY NET CASH COSTS FOR RANK GROUP OF ABOUT £25 MILLION BEFORE MITIGATING ACTIONS

* TOTAL AVAILABLE CASH AND FACILITIES AFTER CUSTOMER DEPOSITS AT END OF FEB WAS £163 MILLION

* BOARD OF RANK DOES NOT BELIEVE APPROPRIATE TO PROVIDE FINANCIAL GUIDANCE FOR CURRENT FY ENDING 30 JUNE

* IMPACT OF VENUE CLOSURES WOULD RESULT IN MONTHLY NET CASH COSTS FOR RANK OF APPROXIMATELY £25 MILLION BEFORE MITIGATING ACTIONS Further company coverage:

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