/ 23 February 2000

SISA FALLS ON POOR RESULTS

SHARES in gambling and hotel group Sun International (South Africa) (Sisa) tumbled on Tuesday as the market reacted negatively to expected, poor interim results and a gloomy earnings outlook for the full year. The share was down almost 5% after the company said late on Monday that its interim earnings per share before exceptionals had fallen to 8,7 cents from a restated 17,1 cents. Revenue for the period declined by 13% to R1,07-billion. Analysts said while the market’s knee-jerk reaction to the fall in earnings is expected, the company’s longer-term outlook is bright.