The South African operator deported that its numbers were down in the first half of the fiscal year.
South Africa.- Tsogo Sun Holdings announced that they will focus on international expansion after receiving the news of flat operating profits during the first half of the fiscal year. The company owns and runs a number of casinos and hotels in Africa.
Tsogo reported revenue of US$445 million for the six months that ended on September 30, 8 percent higher from the same period in 2015, whilst operating profit was flat at US$111 million and net income rose 6 percent to US$61 million.
Back in July, the company said that economy in South Africa has slowed down considerably and analysts expect 2016 to be the slowest growth rate since 2009’s recession. Tsogo Sun generates nearly 90 percent of its revenue in South Africa managing so far to increase its gaming wins by 6 percent and hotel revenue by 9 percent till March 2016.