Sun International FY adjusted HEPS down 7.3%

Posted On Monday, 25 August 2014 12:17 Published by
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Sun International says adjusted headline earnings per share fell 7.3% in the year ended June with headline earnings down 24% to R530m.

Graeme Stephens

Hotel group Sun International (SUI) said on Monday that adjusted headline earnings per share (HEPS) fell 7.3% in the year ended June with headline earnings down 24% to R530m.

Revenue for the year was 5.4% ahead of last year at R10.8bn‚ reflecting a significant turnaround in the second half in which revenue was up 7.4% compared with 3.6% in the first half of the year.

Earnings before interest‚ tax‚ depreciation and amortisation (Ebitda) were 5% up at R3.1bn‚ with Ebitda growth of 16% achieved in the second half offsetting the 5% decline in the first half.

The group declared a final gross dividend of 155c per share. Sun International said the group had made significant progress with its strategic objectives‚ including growing revenue‚ which was up 5.4% for the year‚ and cost cutting initiatives.

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