Rank Group has reported a 5 per cent increase in revenue in its results for the year ending 31 December 2010, when compared with the previous 12 months.

The group's Grosvenor Casinos division helped drive its strong performance for the year, with an 8.5 per cent increase in revenue and a 16.5 per cent rise in operating profit. While revenues were also up at Mecca Bingo, an increase in taxation was largely to blame for an 8 per cent drop in operating profits to less than £30m.

Rank Group chief executive Ian Burke said: "The group continued its progress in 2010, delivering strong growth in earnings through improved revenue and profit generation and a further substantial reduction in net debt. "At the same time, we stepped up investment in our businesses and improved our competitive position in our key markets."