Sun International, helmed by South African executive Anthony Leeming, has recently unveiled impressive financial results for the first half of 2024, marked by significant revenue growth.
The hospitality and leisure powerhouse recorded a profit of R932 million ($52 million) for the six months ending June 30, 2024, nearly doubling the R485 million ($27.05 million) reported during the same period last year. The financial uplift was notably supported by a R343-million ($19.1 million) contribution from discontinued operations, highlighting a key factor in the company’s overall financial enhancement.
In addition to profit growth, Sun International demonstrated a robust revenue performance with a year-over-year increase of 5%, rising to R5.99 billion ($333.8 million) from R5.71 billion ($318.2 million) in 2023. The gaming segment—accounting for 77.4% of total revenue—continued to showcase resilience, growing by 3.4% during this period. This segment remains integral to the company’s financial health, contributing substantially to the overall revenue surge. Sun International Profits
Demonstrating a firm commitment to its dividend policy aimed at delivering sustainable returns to its shareholders, Sun International’s board has approved an interim gross cash dividend of R1.61 ($0.09) per share, totaling R416 million ($23.2 million). This decision underscores the company’s strategic balance between continuing growth and rewarding shareholders. Sun International Profits
Founded 56 years ago by Sol Kezner, Sun International has emerged as a leading entity within Africa’s gaming and hospitality landscape. Under the guidance of Anthony Leeming, the firm has solidified its market position, navigating the challenges posed by broader economic conditions.
The group’s total assets experienced a slight increase, growing from R13.57 billion ($756.8 million) as of December 31, 2023, to R13.62 billion ($760 million) by the end of June 2024. Simultaneously, equity improved from R2.01 billion ($112.1 million) to R2.13 billion ($118.7 million), signifying a fortified balance sheet resulting from the company’s strong performance.
