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Peermont Global, which is a household name in the gambling industry of South
Africa, has reported a strong rise in earnings for the first half of 2005.
In addition to this financial report, the company also predicted the company
would rise approximately 50% in the second half of the year.
The prediction is based on Peermont's rise in
capital share revenue for the first half of the year, which was up 52% since
January. Keeping with this trend, it is expected that Peermont's stock
would rise to over 60% per diluted share, as stated by CFO, Anthony Pettergill.
Equating all costs typical to stock, including non trading and extraordinary
items, Peermont stock was valued at 43 cents.
Currently, shares are in the 8-9 rand
neighborhood, and are relatively stable. In the company's financial
statement, much cause for the success was given to a large business acquisition
Peermont undertook in earlier times. Without this acquisition, which is
expressed as a one-off option gain, the revenue per share would be worth
approximately 27 cents.
In the meantime, Peermont continues to operate
its casinos and hotel resorts (Emperor's Palace, Graceland and the Grand Palm)
in normal fashion, providing some of the best casino gambling and vacation style
accommodations in the world. For more information on investor relations,
inquirers can visit the Peermont Global website.
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