INTERIM RESULTS
Payout jackpot for Phumelela investors
Phumelela Gaming & Leisure hiked its interim dividend payout 25% to 42c per share on a solid performance from its betting operations in the six months to end January. This is good news for shareholders who have seen the Phumelela share price decline by nearly 30% in the last six months. Shares were up 1.79% to R14.25 following the release of interim results on Wednesday. Headline earnings increased 23% to R83m, but normalised headline earnings, after stripping out the cost of one-off voluntary retrenchments, surged 52% to R102.5m. On a per share basis — factoring in a 33% hike in shares in issue after a fund-raising exercise in 2017 — normalised headline earnings came in 12% up at 101c per share. CEO Rian du Plessis said that the synergistic relationship between Phumelela’s fixed-odds business Betting World and joint venture partner Supabets was gaining significant traction. “Supabets, with an entrepreneurial culture, is expanding its unique retail footprint in partnership with Bett...
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