Niveus, the gambling and liquor interests unbundled from Hosken Consolidated Investments in 2012, narrowed its interim loss to R6m, a fifth of the matching period’s R34m net loss. The group sold its 57% stake in wine and brandy producer KWV for R1.15bn in May, less than its book value of R1.7bn, contributing to a R71m accounting loss. Excluding this loss for discontinued operations, Niveus made a R65m profit, it said in its results statement on Wednesday. Despite the accounting loss, Niveus declared an 18c interim dividend from income reserves — nearly treble the matching period’s 7c per share interim dividend. Niveus’s continuing operations include Galaxy, which had increased its electronic bingo terminals to 1,886 at September 30 from 1,642 at March 31. The average monthly income per terminal was R19,727 for the six months to end-September. Niveus also owns Vukani, which increased its number of limited payout machines to 5,341 from 5,265. The average gross gaming revenue per machi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.