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In the news
Sun International's quarterly profit of R2,5bn
Hotel and gaming group Sun International reported an 11% rise in revenue for the first quarter to R2.5bn from the previous period's R2.2bn.
Revenue from casinos was up by 13% while the revenue from food and beverages rose by 5%.
"The first quarter has seen strong performance in South Africa's gaming units with Monticello increasing its revenue by 25%.
"GrandWest‚ Carnival City‚ Sibaya and Boardwalk achieved revenue growth of 8%‚ 13%‚ 12% and 8% respectively‚" Sun International said.
During the period‚ the group achieved an occupancy rate of 59% about 3% lower than the comparable period last year.
"The decline in occupancy was due to a 5% increase in available room nights while the room nights sold rose by 1%.
"The number of rooms increased at the Wild Coast as the refurbishment programme was completed in June‚" the group said.
Sun International expects to maintain revenue growth in the second quarter.
"Forward bookings indicate a recovery in room nights sold for the balance of the year and occupancies for the second quarter are expected to rise‚" Sun International said.
Source: I-Net Bridge
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