The Rank Organisation Plc has released its results for the year ending October 31 and, along with it, the results of Rank Xerox Ltd, of which it owns 49%. The printer and copier affiliate saw turnover climb by 8% to UKP3,100m, although Rank admits that this was largely down to exchange rates. In real terms, the increase was 2% according to the company. Even so, Rank managed to cream an extra 10% pre-tax profit from Rank Xerox, meaning that its half is now UKP151.2m. Xerox’s recent announcement of a worldwide $700m net restructuring charge for Rank Xerox will show up next year, and although Xerox doesn’t have firm figures to show the benefit of the reorganisation, it estimates that it will be better off by approximately a quarter of the cost.
