Southern Sun Ltd (SSU) FY23 – Results Snapshot

Diluted HEPS up +730.5% y-y to 51.7cps (LY: -8.6cps).
Net turnover increased by +106.8% y-y to R5 386m
(LY: R2 843m). Rooms revenue increased by +106.4% y-y to R3 255m (LY: R1 641m). Food and beverage revenue increased by +83.0% y-y to R1 272m (LY: R731m).
OPM increased to 24.0% (LY: 6.2%).
Expense to sales decreased to 76.0% (LY: 93.8%). Expenses increased by +73.1% y-y (LY: +39.6% y-y).
No total dividend declared.
Cash generated from operating activities up +369.3% y-y to R1 314m (LY: R280m).
Occupancy rate increased to 51.5% (LY: 30.6%).
Average room rate increased by +18.3% y-y to R1 268 per room (LY: R1 072 per room).