Johannesburg - Africa's biggest hotels and casino operator
Tsogo Sun Holdings reported a 12% in full year profit as low interest
rates and higher wages boost demand for leisure spending.
Tsogo, 40%-owned by brewer SABMiller [JSE:SAB], said
adjusted headline earnings per share totalled 121.5 cents in the year to end
March compared with 108.5 cents.
Consumer are warily spending again in Africa's biggest
economy thanks to decades-low interest rates and above-inflation wage
settlements
Tsogo said it had enough cash to pursue its growth strategy.
Shares in the company, which are valued at $2.53bn, are up about 11% so far this year, outpacing a 5% gain in the JSE All Share [JSE:J203] index.