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Super Group fiscal H2 profit climbs 27.4% YOY

Super Group Ltd. said its normalized net income for the fiscal second half ended June 30 was 1.14 rand per share, a gain of 13.5% from 1.00 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 400.8 million rand, an increase of 27.4% from 314.7 million rand in the year-earlier period.

Total revenue grew 23.8% on an annual basis to 13.71 billion rand from 11.07 billion rand, and total operating expenses increased 23.0% year over year to 12.67 billion rand from 10.30 billion rand.

Reported net income increased 17.7% from the prior-year period to 495.3 million rand, or 1.41 rand per share, from 420.7 million rand, or 1.34 rand per share.

For the year, the company's normalized net income totaled 2.31 rand per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3.31 rand.

EPS rose 16.9% from 1.98 rand in the prior year.

Normalized net income was 781.7 million rand, a gain of 26.6% from 617.2 million rand in the prior year.

Full-year total revenue rose 30.9% year over year to 25.95 billion rand from 19.82 billion rand, and total operating expenses grew 31.1% year over year to 24.01 billion rand from 18.32 billion rand.

The company said reported net income grew 22.2% on an annual basis to 985.9 million rand, or 2.91 rand per share, in the full year, from 806.7 million rand, or 2.58 rand per share.

As of Oct. 14, US$1 was equivalent to 14.21 rand.