Skycity reports strong financials due to NZ tourism

Company News

by David Chau

New Zealand casino business, Skycity Entertainment Group Ltd (ASX:SKC) has released its financial results for the year ended 30 June 2016.

The following figures are in New Zealand Dollars.

Skycity says its normalised net profit was $152.7 million, representing a 13.9% increase over the previous year – boosted by strong tourism in New Zealand.

As for its normalised EBITDA, it went up 8.2% to $330.1 million.

The company will pay a final dividend of 10.5 cents per share on 16 September 2016. Half of that dividend will be imputed at the company’s NZ tax rate of 28%, and not franked for Australian purposes.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.