The Star Entertainment Group Ltd Rise in 1H 17 statutory revenue
Rise in 1H 17 statutory revenue: The Star Entertainment Group Ltd (ASX: SGR) had reported statutory NPAT of $141.8 million, up 135.2%, for the half-year ended 31 December 2016 while statutory revenue from ordinary activities was up 12.24% to $1,182.2 million against corresponding period of last year. However, the normalised NPAT has been $107 million, down 17.7%. Basic and Diluted EPS were 17.2 cents compared to 7.3 cents last year. The interim dividend declared was 7.5 cents, compared with 5.5 cents last year. The group has also highlighted certain areas of weakness such as Sydney’s domestic revenue impacted by disruption from capital works, and decline in group EGM market share owing to disruption and increased free play due to relaunch of loyalty program. Further, the international VIP rebate business front money has not witnessed a great growth over 2H FY16. SGR recently announced that South East Queensland’s most iconic destinations, Jupiters has been transitioned to a new name and brand – The Star Gold Coast from March 30, 2017.
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