SUN INTERNATIONAL LIMITED - BUSINESS UPDATE
SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Company registration number 1967/007528/06)
Share code: SUI
ISIN: ZAE000054995
Business Update
Sun International Limited is pleased to announce that the group`s trading
results for the first part of the 2005 financial year have been strong. Revenue
for the period 1 July 2004 to 20 November 2004 was 16% higher than in the same
period last year. This growth has been driven primarily by the group`s casino
operations with gaming revenue 20% higher than last year compared to rooms
revenue which only increased by 3% over last year. During the first quarter to
30 September 2004 revenue was 17% higher at R1 177 million and earnings before
interest, depreciation and amortisation (EBITDA) were 33% higher at R360
million.
As a consequence of the strong trading, improvements in margins and lower
borrowing costs, adjusted headline earnings per share for the period ending 31
December 2004 are anticipated to be between 50% and 70% higher than in the same
six month period last year.
The group`s new casino complex located North of Durban near Umhlanga, Sibaya
Casino and Entertainment Kingdom, opens to invited guests tomorrow and to the
public on Thursday, 2 December 2004. The complex incorporates elements inspired
by Zulu architecture married to highly sophisticated technology and comprises
inter alia 924 slots and 37 tables, a 36-room luxury hotel, conference
facilities, the unique iZulu Theatre and Cultural Village, restaurants, bars,
and children`s entertainment facilities.
This financial information has not been reviewed or reported on by the group`s
auditors. The group`s interim results for the six months ending 31 December
2004 are expected to be published on or about 8 March 2005.
Sandton
30 November 2004
Sponsor
Investec Bank Limited
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