JOHANNESBURG - Resort hotel chain and casino group Sun International said on Wednesday its operations achieved growth in gaming revenue and a satisfactory earnings before interest, taxes, depreciation and amortization performance in the year to December despite an increase in value-added tax last April and weakness in the South African economy.
Its Sun City resort in the North West province however reported weaker results than anticipated as a result of the current economic environment and the cancellation of a few large conferences, although this was expected to improve during the second half of 2019 based on the rate of forward bookings. During the period under review Sun International said it managed to reduce its borrowings from R15 billion at the end of 2017 to R14.7 billion at 31 December 2018.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sun International’s shares jump after improved earningsExcluding write-downs, Sun International said it was profitable on a headline-earnings basis
Source: BDliveSA - 🏆 12. / 63 Read more »
Goodbye Taxify, Bolt is here to speed up growth | IOL Business ReportBolt previously known as Taxify said the name will reflect their mission of building ways to move in cities, be it by car, scooter or motorbike.
Source: IOL - 🏆 46. / 51 Read more »
JUST IN: Group Five placed in business rescue | IOL Business ReportThe group and its subsidiaries have said to have been experiencing cash flow difficulties due to significant operating losses. busrep interesting move
Source: IOL - 🏆 46. / 51 Read more »
Politics, economy and business: Unpacking corruption in SA | IOL NewsOPINION: Corruption is embedded in processes of class formation – specifically, the formation of new black elites. This means corruption is primarily a matter of politics and the shape of the economy. Ole Sad Sack...
Source: IOL - 🏆 46. / 51 Read more »
Treasury to act against staff implicated in IFMS investigation | IOL Business ReportParliament's Standing Committee on Appropriations last week accused the Treasury of failing to comply with its own regulations.
Source: IOL - 🏆 46. / 51 Read more »