Diluted HEPS 169.0cps (+11.2% y-y).
Net turnover increased by 1.6% y-y to R11 503m. Net gaming win revenue increased by 0.5% y-y to R9 673m. Food and beverage revenue increased by 10.0% y-y to R648m. Rooms revenue increased by 4.4% y-y to R523m.
Expenses increased by 3.6% y-y while expenses-to-sales increased from 73.6% to 75.0%
OPM decreased by 140bps to 25.0%. The cost of diesel and the adverse effect on income due to loadshedding continued to negatively impact the group’s margins.
Dividend of 70.0cps.
Cash generated from operating activities down 3.9% y-y to R2 408m.
Maintenance capex of c. R600m for the year, impacted by inflationary increases and forex fluctuations.
New investments planned for the Western Cape by TSG in the Helderberg and Overberg regions. Included in the plans is a new casino and hotel in Somerset West and upgrades to the Caledon site.
