South African hotel chain Sun International reported a 19 percent fall in half-year profit, in line with its own forecast, blaming flat casino revenue growth at home for the decline.
Sun International said headline earnings per share slid to 332 cents for the six months to the end of December.
Poor economic conditions in South Africa resulted in revenue growth at casinos of only 0.6 percent, which Sun International said was well below inflation in the country where it still earns 80 percent of its revenue, Reuters reported.
The company said its Monticello asset in Chile helped offset poor growth at home.
Sun International is also evaluating its 536 million rand (US$34.8 million) investment in Nigeria, where some of its employees have been detained and authorities are investigating one of its investments, the company said.
Sun International profit falls
