May 21, 2020 / 8:43 AM / 14 days ago

S.Africa's Tsogo Sun Hotels flags lower core profit due to travel restrictions

JOHANNESBURG, May 21 (Reuters) - South Africa’s Tsogo Sun Hotels, one of many tourism firms to be hit hard by the impact of the coronavirus, said on Thursday it could face a fall of up to 10% in full-year core earnings due to the drop in local and international travel.

Tsogo Sun said earnings before interest, income tax, depreciation, amortisation, rent, long term incentives and exceptional items for the year ended March 31 was expected to be 8%-10% lower than the 1.4 billion rand ($78.2 million) a year earlier.

$1 = 17.9046 rand Reporting by Nqobile Dludla; Editing by Edmund Blair

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