BEtting operator's full-year performance
International ventures lift Phumelela
SPORTS betting operator Phumelela Gaming and Leisure reported a 52% jump in aftertax profit to R121m.It declared a 70c final dividend, taking its total dividend for the year to end-July to R1.04, an 18% rise from the previous year’s 88c.Phumelela reported on Friday morning that its total income grew 19% to R1.5bn. Its fastest growth was from its international operations, which grew income 38% to R274m, while its domestic operations grew 15% to R1.2bn.Liberalisation of SA’s sports gambling laws have allowed Phumelela to diversify from being a horse racecourse owner into being a bookie for soccer and other sports."Growth in tote betting on sports other than horse racing, fixed-odds betting and a substantial increase in contribution from international operations, were the drivers of this year’s result," the company said in its results statement.Its traditional horse-racing operations contributed a pretax loss of R104m, which was offset by a 76% jump to R233m in pretax profit from its o...
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