22 May 2013 – final results
The group has announced its results for the year to 31 March and these revealed a 3% reduction in revenues on continuing operations although EBITDA rose 1% to US$589m. Earnings per share on continuing operations rose to 1.9 US cents or about 1.25p and the dividend for the year was 4 US cents and this payment is expected to be the same in the current financial year. This equates to about 2.6p at current exchange rates and thus gives the shares a yield of 5.7%.
Last year was very significant for the group as it disposed of its Monaco and Islands and Macau businesses to focus on the Caribbean and surrounding area. There are possibilities of further growth in the region but following a strong run in the company’s share price we reduce our recommendation to HOLD.