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Hosken Consolidated Investments (HCI) reported improved earnings for the year ended March, with growth across its hotels, coal mining, property and manufacturing businesses helping offset weaker gaming activity and ongoing exploration losses in oil and gas.The diversified investment group, whose portfolio spans gaming, media, transport, mining, hotels and energy interests, on Tuesday said headline earnings per share rose 50% to 2,247.9c, while revenue increased 6% to R14.2bn. The company declared a total dividend of 200c per share for the year, up 18% from the previous period.Coal mining was the group’s strongest performing division, with headline earnings rising 180% to R178.6m, supported by higher contributions from commodity-linked businesses.The company said its hotels division recorded a 20% increase in headline earnings to R499.4m amid continued improvement in travel and tourism activity. Property headline earnings increased 44% to R119.9m, while branded products and manufacturing rose 55% to R154.1m.Gaming remained HCI’s single largest earnings contributor, generating headline earnings of R794.7m, though net gaming win — a measure of customer spend retained by operators — was 1% weaker for the year.The group’s oil and gas prospecting division remained loss-making, reporting a loss of R66.4m compared with R296.5m previously.Media and broadcasting earnings were largely flat during the period, while transport operations recorded modest growth.HCI also reported an 11% increase in net asset value per share to 33,597c, while earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 4% to R5.43bn.HCI’s portfolio includes interests in gaming operator Tsogo Sun and broadcaster eMedia Holdings.Business Day
