Expected Earnings Increase: Sun International anticipates a significant increase in its interim earnings for the six months ended June 30, 2023, ranging between 73% and 98%.
- The earnings boost is attributed to SunBet, which generated record income during the period. SunBet’s performance has contributed significantly to the expected earnings growth.
- Basic earnings per share are projected to be between 161 cents per share and 180 cents per share, representing an increase of 71% to 92% compared to the prior corresponding period’s basic earnings of 94 cents per share. Headline earnings per share are expected to be between 161 cents per share and 184 cents per share, indicating a growth of 73% to 98%.
- The group’s hotels and resorts had a strong first half, building upon an excellent performance in the second half of the previous year. Urban casinos showed income growth, while Sun Slots operations faced challenges due to ongoing load shedding.
- Sun International remains optimistic about SunBet’s growth prospects and its ability to achieve aggressive growth targets for the business.
- The company plans to release its interim results on September 11, 2023.