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Tsogo Sun profit dips on gambling slump

May 21 2015 09:55


Company Data


Last traded 23
Change 1
% Change 4
Cumulative volume 533500
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 - Tsogo Sun Holdings [JSE:TSH], Africa's biggest hotels and gambling operator, posted a slight drop in full-year profit on Thursday as cash-strapped consumers cut back on gambling.

Tsogo Sun said diluted headline earnings per share dipped 1% to 175 cents.

Consumers are spending less due to high personal debt levels and rising fuel prices while a weak economy restricted business and government travel, which has led to low hotel occupancies.

Tsogo Sun, which also operates hotels in several other countries such as Nigeria, Kenya and Mozambique, said fears over the Ebola virus hit its hotel business in the rest of Africa.

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