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.
