Crown HY profit up despite tough conditions

Crown HY profit up despite tough conditions - 23rd February 2017

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Gambling giant Crown Resorts has lifted headline first-half profit 75 per cent to $359.1 million, boosted by $167m in gains from its Melco selldown but Australian revenue has fallen amid tough trading conditions.

Normalised net profit for Crown - which excludes volatility in gaming revenue - was down 9.1 per cent to $191.3 million and revenue for the James Packer-controlled group's Austrlaian resorts was down 12.5 per cent to $1.48 billion.

Crown declared an interim dividend of 30 cents a share and a special dividend of 83 cents a share, both 60 per cent franked.