RANK’S WINNING WAYS

The company’s shares soared 8p to 773⁄4p as it added that the long decline at its Mecca bingo clubs had stabilised. Pre-tax profit rose from £17.6million to £24.7million for the half year to June, a result that was much better than the City was expecting.

However, Rank warned the second-half figures would be affected by higher taxes after the Government hiked duty.

Chief executive Ian Burke said the figures showed the problems the group had following the smoking ban were now beginning to work through.

Actions taken to make both the casinos and bingo clubs more attractive, such as improving food and service, were also paying off.

Grosvenor saw under­lying profit at its 34 casinos rise by 17.6 per cent to £14.7million. Burke is now hoping to repeat the trick with Mecca. The group has recently opened a £5million bingo hall near Beeston, Nottinghamshire, where it is testing a number of ideas that could be rolled out across its 103 clubs.