* diluted headline EPS at 68 cents vs 50 cents
* Dividend up 20 percent to 24 cents
* Shares jump more than 5 percent
(Adds details, shares)
JOHANNESBURG, Nov 19 Africa's biggest hotels and
casino operator, Tsogo Sun Holdings Ltd, reported a 36
percent rise in first-half profit, as consumers in its mainstay
South African market spent more on leisure.
Tsogo Sun, 40 percent owned by brewer SABMiller
, said diluted headline EPS totalled 68 cents in the six
months to end-September compared with 50.1 cents a year earlier.
Headline EPS, the main measure of profit in South Africa,
strips out certain one-time items.
Shares in the 28 billion rand ($3.15 billion) company jumped
5.39 percent to 25.24 rand by 0717 GMT, outpacing its closest
rival Sun International, up 0.6 percent.
Consumer spending in Africa's biggest economy has been on
the mend, although some analysts have warned that spending is
partly fuelled by a surge in unsecured loans such as credit
South African hotels have also struggling with low occupancy
rates due to oversupply after a building boom in the run-up to
the 2010 soccer World Cup.
Tsogo Sun said its occupancy rates improved slightly in the
The company, which is also owned by investment holding firm
Hosken Consolidated Investments, raised its interim
dividend by 20 percent to 24 cents.
Its shares are up more than 50 percent so far this year,
outperforming a 15 percent gain the JSE All-share index
($1 = 8.8937 South African rand)
(Reporting by Tiisetso Motsoeneng; editing by David Dolan)