Phumelela hails prelim results

South African horse racing and totalizator betting operator Phumelela Gaming and Leisure Ltd, hailed preliminary audited results for the year ended 31 July 2016 saying it was pleased with the strong growth in fixed odds, international and soccer tote betting over the past 12 months.

The company reported a 54 percent increase in earnings per share to ZAR 163,62 cents, headline earnings per share up 41 percent to ZAR 164,51 cents and a 17 percent increase in final gross dividend to ZAR 70 cents.

“Diversifying and taking South African thoroughbred horseracing to the world has sustained our horseracing business in the face of strong cost pressures,” a company statement said.

Interactive contributes 30 percent of local tote bets forming a key component of the company’s future strategy. The Group said it will continue to invest in expanding this key side of the business.

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