Tsogo Sun (TSG) 1H24 Results Snapshot

Diluted HEPS 85.8cps (+47.9% y-y).
Net turnover increased by 5.1% y-y to R5 739m. Net gaming win revenue increased by 6.1% y-y to R4 954m. Food and beverage revenue increased by 21.8% y-y to R330m. Rooms revenue increased by 4.0% y-y to R257m.
OPM increased by 540bps to 28.1%.
Expenses decreased by 2.3% y-y while expenses-to-sales decreased from 77.3% to 71.9%
Dividend of 30.0cps.
Cash generated from operating activities up 22.4% y-y to R1 253m.
The cost of diesel of R55m for the period and the adverse effect on income due to high levels of load shedding, negatively impacted the group’s interim period position and margins.
Higher interest cost of R54m also had an adverse effect on headline earnings.