The 2022 September edition of IM argued that the management action taken before and during the height of the pandemic would bring a positive uplift in valuation metrics for Sun International.

This did start happening with last year’s interim results, which set a fast pace in the group’s recovery, with headline earnings per share (HEPS) rocketing from a loss of 3c a share to a positive 177c a share (admittedly, off the low base set during Covid)...

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