Rank Group PLC (LSE:RNK) jumped over 5% on Thursday after reporting a return to profit on a rebound across its London casinos over the year to June.
Group operating profit came in at £29.4 million for the year, the casino and bingo firm said, as net gaming revenue ticked up 8% to £734.7 million.
This was driven by increased revenues across its Grosvenor casino sites, with those in London recording a 10% jump in turnover.
“We have started the new financial year as we finished the previous one, with good momentum across all businesses,” chief executive John O'Reilly commented.
“With inflation receding, disposable incomes improving, investment continuing to be made in the customer proposition and a strong pipeline of growth initiatives underway, we are confident in the future.”
Rank also announced it would reinstate dividend payments, with 0.85p per share being recommended for the year just gone.
Shares climbed 5.7% to 73.98p.