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Phumelela Gaming & Leisure fiscal H1 profit falls YOY

Phumelela Gaming & Leisure Ltd. said its normalized net income for the fiscal first half ended Jan. 31 was 47 South African cents per share, a decrease of 5.3% from 50 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.9 million rand, a decrease of 5.5% from 39.0 million rand in the prior-year period.

Total revenue increased 13.1% on an annual basis to 422.7 million rand from 373.9 million rand, and total operating expenses climbed 11.6% year over year to 383.2 million rand from 343.4 million rand.

Reported net income decreased from the prior-year period to 49.7 million rand, or 63 cents per share, from 51.7 million rand, or 66 cents per share.

As of April 10, US$1 was equivalent to 11.97 rand.