Data provided by McGregor BFA
All data is delayed
Loading...
See More

Rand eats into Sun International earnings

Feb 28 2011 10:00 Reuters

Related Articles

Gold Reef/ Tsogo merger takes effect

Sun International revenue takes a dip

Gold Reef shares extend gain

Gauteng gamblers coin it

Sun City dimmed by profit eclipse

Casino merger hearings postponed

 
Johannesburg - Gaming and hotel group Sun International [JSE:SUI] reported a flat first-half profit, hit by unfavourable swings in currencies and warned of little growth for the remainder of the year.

Sun International, which runs South Africa's Sun City resort, said on Monday adjusted headline earnings per share totalled 215 cents in the six months to end-December, little changed from the previous year.

The company, whose revenue grew to R3.4bn from R3.2bn, said excluding the currency movements, headline earnings per share would have grown 13%.

Shares in Sun International edged down 0.20% to R97.80 by 09:30, in line with the broader JSE All-share index.

Sun International has lost nearly 7% of its market value this year, underscoring the tough climate in South Africa, where consumers are squeezed by high debt and unemployment.

The company said it expected little growth in the remainder of the year, due to a slow recovery at its gaming unit and weaker business in its hotels unit.
sun international
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Numsa prepares for life after Cosatu

Numsa has not only reiterated its call for President Jacob Zuma to resign but it is also preparing for life outside of Cosatu, a report states.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...