The UK's Rank Grouphas put its Deluxe Film and Deluxe Media division on the block after profitsfell by nearly a third at the division.

Chief executive Mike Smithsaid the board in principle believed it would be an opportune time to divestthe Deluxe units. Profit at the division, which replicates and distributesfilms, fell 31% to £19.2m in the six months to June 30.

The slump at Deluxe wasechoed throughout the leisure group, where overall net profits fell 20% to£63.9m. The company reportedlylost a major European DVD manufacturing and distribution contract. Pre-taxprofits at the group were down from £77.4m to £60.2m, beforeexceptional items.