November 22, 2017 / 5:27 AM / in 23 days

S.Africa's Tsogo Sun H1 earnings fall 10 pct

JOHANNESBURG, Nov 22 (Reuters) - South African hotelier and casino operator Tsogo Sun reported a 10 percent fall in half-year earnings on Wednesday due to depressed demand from cash-strapped consumers as economic growth locally stagnates.

The owner of Montecasino said adjusted headline earnings per share for the six months-ended September fell to 78.8 cents per share from 88 cents in the prior year.

Core profit, or earnings before interest, tax, depreciation, amortization and property rentals (EBITDAR) were flat.

Tsogo Sun is grappling with an economy that is barely growing amidst political uncertainty and sovereign credit rating downgrades. (Reporting by Nqobile Dludla; Editing by Biju Dwarakanath)

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