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Tsogo Sun Holdings fiscal H1 profit falls YOY

Tsogo Sun Holdings Ltd. said its normalized net income for the fiscal first half ended Sept. 30 amounted to 61 South African cents per share, a decline of 6.6% from 66 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 655.4 million rand, a decrease of 8.9% from 719.4 million rand in the prior-year period.

Total revenue climbed year over year to 5.44 billion rand from 5.22 billion rand, and total operating expenses increased 7.3% from the prior-year period to 4.09 billion rand from 3.82 billion rand.

Reported net income fell 13.7% on an annual basis to 719.0 million rand, or 67 cents per share, from 833.0 million rand, or 76 cents per share.

As of Nov. 20, US$1 was equivalent to 10.95 rand.