Sky City Entertainment Group has achieved the double-digit growth it was aiming for with a record full-year net profit of $141.7 million.The result, for the year to June 30, is up $26.4 million, or almost 30% on the same time last year.During the year, th
Sky City Entertainment Group has achieved the double-digit growth it was aiming for with a record full-year net profit of $141.7 million.
The result, for the year to June 30, is up $26.4 million, or almost 30% on the same time last year.
During the year, the casino, hotel and restaurant operator earned revenue of $837.9m – down 1% on the same time last year.
A one-off, deferred tax liability of $39.7 million was incurred from changes to the way buildings are depreciated, announced in the May budget.
Adjusting for this amount, net profit was $102 million.
Chief executive officer Nigel Morrison said the result was pleasing in a challenging economic environment . Strong growth had been achieved in its international businesses and the company had continued to gain market share in key markets.
Mr Morrison said uncertainty in gaming markets and economic conditions would continue to impact earnings, but returns were expected to improve as the economy recovered.
A final dividend of 9.25 cents per share will be paid on September 17, taking the full-year dividend payout to 17.25 cents per share – a rise of 11%.
