Australia's Crown annual profit jumps 13%, beats expectations

[BENGALURU] Australia's biggest casino operator, Crown Resorts Ltd, said on Thursday its annual profit rose 12.7 per cent, beating expectations, as resurgent demand from high-stakes gamblers delivered a surge in turnover.

Normalised net profit, which is adjusted to remove extraneous items, for the year ending June 30 rose to A$386.8 million (S$391.8 million) from A$343.1 million a year ago, the company said. The figure came above the A$366.3 million estimated by a poll of nine analysts, according to Thomson Reuters data.

The company declared a final dividend of 30 cents per share, in line with its final dividend for 2017.

REUTERS