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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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