New Zealand based entertainment company Sky City Entertainment Group Ltd
(ASX:SKC) has reported a 29.6% jump in profit for the half year and reaffirmed its expectations for double digit growth in full year profit.
Net profit after tax for the six months to December 31, 2009 came to NZ$71 million up from the NZ$54.8 million recorded for the same period a year ago.
Revenue rose 5.9% to NZ$447 million, with the company declaring an interim dividend of 8 cents a share.
CEO Nigel Morrison says that while the company’s earnings in New Zealand were flat, its Australian business delivered 7% earnings growth.
Looking ahead Sky City says it is on track to deliver net profit after tax growth of between 10 and 15% for fiscal 2010.
Sky City earned $92.78 million for fiscal 2009.
