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Sun International fiscal H1 profit climbs 16.1% YOY

Sun International Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 3.85 rand per share, an increase of 16.0% from 3.32 rand per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 360.6 million rand, a gain of 16.1% from 310.5 million rand in the year-earlier period.

Total revenue rose 6.6% on an annual basis to 5.29 billion rand from 4.96 billion rand, and total operating expenses increased year over year to 4.25 billion rand from 4.08 billion rand.

Reported net income rose on an annual basis to 742.7 million rand, or 7.93 rand per share, from 270.5 million rand, or 2.84 rand per share.

As of Feb. 23, US$1 was equivalent to 11.62 rand.