Sun International Reports Strong Results

SOUTH AFRICA – As reported by the South Africa Business Day: "Sun International (SIS) has reported strong trading results for the period July 1 to November 20, 2004 - the first part of its 2005 financial year.

"Revenue was 16% up on the same period last year while earnings before interest, tax, depreciation and amortisation (EBIDTA) were 33% higher at 360 million rand, the leisure, casino and hospitality group said on Tuesday.

"CE Peter Bacon said that adjusted headline earnings per share (HEPS) for the period ending December 2004 were anticipated to be between 50% and 70% higher than in the corresponding period last year, fuelled by strong trading, improvements in margins and lower borrowing costs.

"The group attributed growth to its casino operations - gaming revenue is 20% higher than last year while rooms revenue is up 3%.

"During the first quarter to 30 September, revenue was 17% higher at 1.177 billion rand.

"…South Africa continues to represent good value for money, even at the upper end of the market, Sun International said adding that its tourism industry is becoming more robust and consistent…"