The Star Entertainment Group Reports NPAT Up 36.01% to $264.4m for the Year to 30 June 2017

The Star Entertainment Group Limited (ASX: SGR) (Group) today announced record statutory earnings and 23% increase in total dividends:

  • Significant investment in core business delivering against long-term strategy
  • Strong 2H revenue growth in Sydney and the Gold Coast as new investments commissioned
  • Effective international diversification into global VIP Rebate and Premium Mass
  • Continued cost discipline and efficiency improvements.

Highlights:

Statutory NPAT of $264.4 million up 36.0% on pcp , supported by 2H FY2017 domestic revenue growth and high win rate in International VIP Rebate

  • Normalised3 NPAT of $214.5 million down 11.1% on pcp4 impacted by lower turnover in the International VIP Rebate business as a result of disruption to the North Asia market
  • FY2017 represented further progress of the Group’s strategy of investing in the core business
    • 1H FY2017 – major capital works progressed, loyalty program relaunched, investment in new capability
    • 2H FY2017 – solid domestic revenue growth as customers responded to completed investments in Sydney up 6.0% on pcp and the Gold Coast up 9.9% on pcp
  • International VIP Rebate diversification effective as business front money up 3.4% on pcp. Statutory International VIP Rebate business revenue up 7.3% on pcp supported by a high win rate of 1.59%5 . Continued effective credit processes and collections
  • Record statutory results support increased final fully franked dividend of 8.5 cents per share up 13.3% on pcp. Total fully franked dividend of 16.0 cents per share up 23.1% on pcp
  • Strong balance sheet maintained (1.3 times Net Debt6 / Statutory FY2017 EBITDA) supporting growth plans
  • Strategic initiatives and capital works to deliver future earnings progressing on schedule.

Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s