Sun International Ltd. Announces Interim Cash Dividend for the Six Months Ended December 31, 2014, Payable on March 30, 2015; Reports Unaudited Group Earnings Results for the Six Months Ended December 31, 2014; Provides Capital Expenditure Guidance for the Year Ending June 30, 2015 and 2016
Feb 23 15
Sun International Ltd. announced that a gross interim cash dividend of 110 cents per share (93.5 cents net of dividend withholding tax) for the six months ended December 31, 2014 has been declared, payable to shareholders on March 30, 2015 as recorded in the register of the company at the close of business on the record date of March 27, 2015.
The company also reported unaudited group earnings results for the six months ended December 31, 2014. For the year, the company reported revenue of ZAR 5,290 million compared to ZAR 4,963 million a year ago. Operating profit was ZAR 1,382 million compared to ZAR 825 million a year ago. Profit before tax was ZAR 1,073 million compared to ZAR 571 million a year ago. Profit for the period was ZAR 885 million compared to ZAR 384 million a year ago. Profit for the period attributable to ordinary shareholders was ZAR 790 million compared to ZAR 302 million a year ago. Headline earnings were ZAR 346 million compared to ZAR 304 million a year ago. Adjusted headline earnings were ZAR 429 million compared to ZAR 348 million a year ago. Diluted earnings per share were 84.3 cents compared to 32.3 cents a year ago. Cash generated by operating activities was ZAR 1,070 million compared to ZAR 1,025 million a year ago. Headline earnings per share were 37.2 cents compared to 32.6 cents a year ago. Adjusted headline earnings per share were 41.3 cents compared to 33.5 cents a year ago. Diluted headline earnings per share were 36.9 cents compared to 32.5 cents a year ago. Diluted adjusted headline earnings per share were 41.0 cents compared to 33.4 cents a year ago. Net asset value per share was ZAR 20.99 compared to ZAR 22.72 a year ago. Adjusted profit before tax was ZAR 1,074 million compared to ZAR 571 million a year ago. Capital expenditure was ZAR 1,084 million compared to ZAR 1,065 million a year ago. EBITDA was ZAR 1,705 million compared to ZAR 1,489 million a year ago. The increase is primarily due to a strong performance from Monticello coupled with the savings from the section 189 restructure and other cost cutting measures implemented.
The company provided capital expenditure guidance for the year ending June 30, 2015 and 2016. For 2015, total capital expenditure is projected to be ZAR 598 million.
For 2016, total capital expenditure is projected to be ZAR 87 million.
Sun International Limited Provides Earnings Guidance for the Six Months Ended December 31, 2014
Feb 10 15
Sun International Limited provided earnings guidance for the six months ended December 31, 2014. The company advised that in comparison to the results of the corresponding reporting period of the previous half year, earnings are likely to be between 826 cents per share to 859 cents per share, which is 155% to 165% higher than the 324 cents of last year; and headline earnings are likely to be 359 cents per share to 375 cents per share, which is 10% to 15% higher than the 326 cents of last year. The difference between earnings per share and headlines earnings per share is largely attributable to the profit realized from the sale of a significant portion of the group's shareholdings in the group's operations located in Botswana, Lesotho, Namibia and Zambia. Diluted adjusted headline earnings, which the board considers the most meaningful measure of the performance of the company, are likely to be between 401 cents per share and 417 cents per share, which is 20% to 25% higher than the 334 cents reported last year. The improved performance is predominantly due to restructuring initiatives across the group, in particular South Africa, and an improvement in Monticello casino revenue which was up 18.2% as the property continues to recover from the smoking ban implemented in Chile in March 2013. Profitability was negatively impacted by the results of the Ocean Sun Casino in Panama which is in its startup phase.
Sun International Limited Announces Resignation of Kele Mazwai from the Board of Directors
Jan 23 15
The shareholders of Sun International Limited are advised that executive director Ms. Kele Mazwai has resigned from the board of directors, with effect from 31 January 2015.