Posted - 26/08/2003 : 10:54:24 AM -----------------------------------------
Preliminary lodgement with the AX ($NZ)
SKYCITY Entertainment Group Limited Managing Director’s Review Year Ended 30 June 2003 GROUP RESULT : KEY ELEMENTS · Net Surplus After Tax of $107.2m up 26% on last year ($85.1m before nonrecurring items)
FINAL DIVIDEND FY03 · 26.0 cents per share (22.5cps 2002). Entitlement date 19 September. Payment date 3 October
KEY ELEMENTS OF THE FY03 PERFORMANCE · Revenues up $46m · Gross Margin up from 54% to 55% · EBITDA up from 43% to 45% · Net Surplus before tax up $29m · Net Surplus after tax up from 17% to 19%
SKYCITY ENTERTAINMENT GROUP LIMITED KEY FEATURES OF FY03 · Revenues increased at Auckland, Adelaide, Queenstown, Canbet · New revenue stream, Hamilton · Cinema revenues up 5% at SKYCITY Leisure · Margin gains in Auckland, Adelaide, Queenstown · Strong first “year” (9.3 months) at SKYCITY Hamilton · 26% increase in net surplus after tax
SKYCITY AUCKLAND FY02 Result · Strong result, growth continues, costs managed, margins maintained · Revenues up 8% (+$27.2m) - Gaming up 8% (+$23.0m) - F&B up 10% (+$2.7m) - Hotel & Conference up 7% (+$1.3m) - Sky Tower up 7% (+$0.5m) - Carparking up 1% (+$0.1m) · Gross Margin up 0.5% points at 64% (+$19.8m) · EBITDA up 0.6% points at 53% (+$16.6m) · EBIT up 1.3% points at 46% (+$17.4m)
+++++++++++++++++++++++++++++++++++ Comment: My guided forecast was $108 mill. (see previous posts) and actual profit was $107.2 mill.
Gerry
SKC Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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