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 August 31 - Leading South African casino, hotel and resort group,
Sun International, has posted a 'sunny'
group revenue of R6.9 billion for the year to June 2007, an impressive 17 per
cent increase on last year's result of R5.9 billion for the same period.
Despite an expected slowdown in the South African economy and subsequent
decrease in consumer spending, Sun International are optimistic that the group
will also increase its earnings in 2008, as well as start to benefit from the 2010
World Cup.
Said Sun International CEO, David Coutts-Trotter, 'We are gearing up for a massive
spend in infrastructure in the run-up to the 2010 World Cup games and expect
some fantastic results.'
Coutts-Trotter admitted, however, that Sun International has set aside plans to
diversify further nationally, and instead focus its efforts on its Nigerian and
Chilean projects for the year ahead as well as expanding into other new territories.
'Growth in our gaming revenue can be attributed partly to a full year's trading
from our Windmill Casino in Bloemfontein and the Golden Valley Casino in
Worcester which was opened in 2006, as well as a strong contribution from
our flagship casinos Morula, Sibaya and Meropa,' said Coutts-Trotter.
Sun International recorded a 33 per cent increase on its adjusted headline
earnings per share which contributed around 3 percentage points in terms of
improvement in its Ebitda margin to 37 per cent.
The group rewarded its shareholders with a dividend of R.2.15 per share bringing
the total dividends handed out to its shareholders for the year to R4.00, a 38 per
cent increase on last year's dividends.
Read our reviews on Sun International's
Windmill Casino and
Meropa Casino.
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