Southern Sun reports higher first-half profits as occupancy rates improve
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GUEST – Marcel von Aulock – Southern Sun CEO
The Covid-19 pandemic hit the hotel sector hard, forcing major players like JSE-listed Southern Sun to significantly restructure by slashing jobs and debt. However, the “pandemic restructuring” continues to deliver strongly for the group, as reflected in its latest interim results, published on Thursday.
“The complete cost restructuring undertaken [during Covid] has meant that the group was able to deliver 10% Ebitdar [earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs] growth from 6% income growth [for the six months ended 30 September 2024]
The Covid-19 pandemic hit the hotel sector hard, forcing major players like JSE-listed Southern Sun to significantly restructure by slashing jobs and debt. However, the “pandemic restructuring” continues to deliver strongly for the group, as reflected in its latest interim results, published on Thursday.
“The complete cost restructuring undertaken [during Covid] has meant that the group was able to deliver 10% Ebitdar [earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs] growth from 6% income growth [for the six months ended 30 September 2024]