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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
Johannesburg - Listed South African hotel and gaming group Peermont on Monday reported a 24.6% rise in headline earnings per share to 49.7c for the year which ended in December 2004 from a restated 39.9c in 2003.
Revenue rose 11.6% to R917.1m from a previous R822.1m.
A final dividend of 16c per share was declared, bringing the total dividend for the year to 27.4c.
Peermont Global has a 62% interest in the well known Caesars Hotel Casino and Convention Resort in Gauteng, as well as stakes in the Graceland Hotel Casino and Country Club in Secunda, the Mondazur Hotel at San Lameer and The Grand Palm Hotel Casino and Convention Resort in Gaborone, Botswana.
Following year end, the company opened a new hotel and acquired two more hotels in Botswana.
For the year, Peermont's total revenue rose by 11.6% to R917.1m, with gaming revenues rising 13.5% to R738.5m and accounting for the lion's share of business.
Non-gaming revenues, including hotel management and other business, grew only 4% to R178m.
Caesars Gauteng contributed the lion's share of the group's revenue and earnings, at R1.13bn and R454.2m, respectively.
Caesars saw revenue rise 14.2% in 2004, compared to an overall increase in the Gauteng gaming market of 15.3% for the year, pointing to a slight decline in market share for the casino - to 27.1% from 27.5%.