Brief: Guoco Says Rank Group To Not Provide Forecast For FY Ending June 30

Guoco

18/03/2020 04:24

March 18 (Reuters) - Guoco Group Ltd  0053.HK :
    * 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:  0053.HK 

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