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Sun International ups profit slightly

Aug 27 2012 11:28
I-Net Bridge

Company Data

SUN INTERNATIONAL LIMITED [JSE:SUI]

Last traded 58
Change 0
% Change 1
Cumulative volume 382981
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Hotel and casino group Sun International [JSE:SUI] posted a 20% year-on-year rise in diluted adjusted headline earnings per share in the year to June 2012‚ to 606 cents.

Revenue was up 10% to R9.8bn‚ while operating profit increased 6% to R1.710bn. The board declared a final dividend of 150c per share.

Gaming revenue was 10% ahead of last year at R7.1bn‚ with slots and tables revenue up 10% and 9% respectively.

In a hospitality environment that continues to be challenging‚ hotels and resorts achieved revenue of R2.6bn‚ up 8%‚ with occupancy of 61.3%‚ 1.9% below last year.

The average daily rate increased by 12% to R1‚228 due to improved room rate yields across most of the customer segments.

Group occupancy - including gaming hotels - declined by 1.6% to 64.1% and the overall group average daily rate increased by 11% to R1‚016.

Sun International said the trading environment was expected to improve marginally in the forthcoming year‚ resulting in improved revenue for both the gaming division‚ and for hotels and resorts.

“Monticello will continue to increase its contribution to the group’s results and the significant capital spent on a number of properties will stand the group in good stead as the market recovers‚” the company said.


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