Sun International reports good results, not too worried about Covid-19 impact as yet
Sun International taking precautions but believes it's still too early to forecast Covid-19 impact.
On Monday, 16 March, Sun International reported a 91 percent jump in adjusted full-year earnings, adding that it was preparing its operations for any possible disruptions caused by the global coronavirus outbreak.
This follows Sunday’s state of the nation address where president Cyril Ramaphosa declared a national state of disaster.
Sun International, which also has operations in Latin America, said it was still too early to forecast what impact the virus might have, but that it was taking all precautions to ensure a safe and healthy environment for guests and staff and preparing operations for any possible disruption to trading.
In terms of its financial results, Sun International has announced that its adjusted headline earnings per share for the year ended 31 December rose to 605 cents per share due to lower interest and deprecation, and a significantly lower tax rate.
The total income of the company rose by 4 percent to R17.2 billion, primarily driven by above-market organic growth from key operations in South Africa and the impact of acquisitions made in Latin America during the previous year.