Crown Resorts Limited (ASX:CWN) has reported a better than expected annual net profit on the back of a strong performance from its Macau joint venture.
The casino owner and operator’s net profit soared 66 per cent to $655.8 million in the 2014 financial year.
CEO Rowen Cragie has described the results as satisfactory with improved trading in the second half in Australia and another strong year in Macau.
Mr Craigie has also noted weak consumer sentiment adversely impacting Crown Melbourne and Crown Perth due to structural and cyclical challenges in the local economies.
A final partially franked dividend of 19 cents per share has been declared, taking the full year payout to 37 cents per share.
