BUZZ-Rank Group: Profit fall prompts transformation drive
** Casino operator Rank Group falls 6.4 pct after FY profits slump 40 pct
** Stock at the bottom of London's midcap index
** Rank has been trying to boost its online operations for some time now to attract younger players and offset the slowdown at its halls and casinos
** However, traffic dropped at its casinos and bingo halls, and its online business saw lower demand in the year
** Co unveils turnaround plan on Thursday to boost revenue and cut costs
** "New CEO's plans to maximise value from the business have been wrapped up in a 'transformation programme' ... We expect multiple opportunities to drive revenue faster and (cost cuts) to be revealed," Peel Hunt analysts say