Trade Idea: Sun International
Sun International has shown an increase of 19% in total group revenue to R7.6bn, according to its unaudited interim results for the six month period ending 30 June 2017. The group reported that the growth in group revenue was attributable to the inclusion in the results of the Latin America-focused Sun Dreams (from 1 June 2016), Sun Slots (formerly GPI Slots, from 1 April 2016) and the Time Square casino complex in Pretoria (from 1 April 2017). However, given the difficult trading conditions and a need to reduce high debt levels, the board decided not to declare an interim dividend.
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