Gaming and hotels group Sun International reported flat first-half profits, hit by unfavourable swings in currencies, and warned of little growth for the rest of the year.
Sun International, which runs Sun City, said yesterday that adjusted headline earnings per share were 215c for the six months to the end of December, little changed from the previous year.
Headline EPS, the main profit gauge, strips out certain once-off items.
The company, whose revenue grew to R3.4-billion from R3.2-billion, said that, excluding the currency movements, headline EPS would have grown 13%.
Shares in Sun International had edged down 0.20% to R97.80 by 7.30am yesterday, in line with the broader JSE All-Share index.
Sun International has lost nearly 7% of its market value this year, underscoring the tough economic climate in South Africa.
The company said it expected little growth in the remainder of the year due to a slow recovery at its gaming unit and weaker business in its hotels.
Just R20 for the first month. Support independent journalism by subscribing to our digital news package.