Sun International’s share price increased 3.77 percent to R30.27 yesterday, after the group said it anticipated “exceptional results” and a significant reduction of debt for the first six months of 2022.
Basic earnings per share for the six-month period ended June 30 is expected to be a profit of between 84 to 100 cents per share, which equates to an improvement of more than 100 percent compared with the prior period’s loss of 32 cents per share.
Headline earnings per share is expected to between 83 to 101 cents, which equates to an improvement of more than 100 percent when compared against the prior period’s headline earnings loss of 32 cents per share.
Adjusted headline earnings per share for the six-month period ended June 30, 2022 is expected to be a profit of between 167 to 185 cents, which represents an improvement of more than 100 percent against the prior period’s loss of 3 cents per share.
The primary difference between headline earnings and adjusted headline earnings relates to a change in the redemption value of the Tsogo Sun put option liability of R222 million.
BUSINESS REPORT