Diluted HEPS 72.6cps (+31.5% y-y).
Net turnover increased by 9.3% y-y to R6 609m. Rooms revenue increased by 10.1% y-y to R4 414m. Food and beverage revenue increased by 6.1% y-y to R1 593m.
Expenses increased by 8.5% y-y while expenses-to-sales decreased from 76.9% to 76.4%.
OPM increased by 50bps to 23.6%.
Dividend of 25.0cps (FY24: 12.5cps).
Cash generated from operating activities up 12.4% y-y to R1 528m. Gross debt decreased from R1 663m to R662m.
Occupancy rate improved from 58.6% to 60.8%, partially from the reopening of the Cullinan and Sandton Towers hotels.
Average room rate increased by 5.4% y-y to R1 463.
Government travel outside of G20-related events has been slow, due to national budget approval uncertainties.
The situation in Mozambique has stabilised following the president’s inauguration, supported by the fact that the hotels are in a secure zone surrounded by embassies and security forces, however, occupancy levels continue to lag.
