Durban - Sun International fell nearly 15 percent on the JSE on Wednesday after the hotel and resorts group said it expected diluted adjusted headline earnings per share to nosedive between 35 and 45 percent for the six months to end-December.
The company warned in a trading update that diluted adjusted headline earnings per share would fall between 189 cents and 223c a share, down from 344c a share reported in 2015. Its share price fell 14.78 percent to close at R74.95 - its lowest level in three months and down from Tuesday’s closing price of R87.95 a share - as the market digested the news.
Sun International said it considered adjusted headline earnings per share as the most meaningful measure of its performance.
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