Crown Resorts has announced its half year results for FY19 with net profit (attributable to members of the Parent) lifting ever so slightly by 0.9 per cent to $194 million compared to the year earlier period.
The result reflects a decline in VIP program play turnover across Crown’s Australian resorts.
Revenue from operations fell 7.3 per cent to 1.48 billion.
Earnings (Normalised EBITDA) decreased by 6.5 per cent to $419 million.
Net operating cash flow for the period of $382.3 million compared to net operating cash flow of $368.5 million in the pcp.
The company declared an interim dividend of 30 cents per share franked 60 per cent franked payable on 4 April 2019.
The Executive Chairman of Crown, Mr John Alexander, says Crown’s Australian operations’ first half result reflected mixed trading conditions.
Shares in Crown Resorts (ASX:CWN) Shares are trading 4.51 per cent lower to $11.65.