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WELLINGTON, Feb 11 (Reuters) - New Zealand casino operator Sky City (SKY) reported a strong increase in its first-half net profit as its international business continued to show hefty growth.
Sky City's net profit after tax rose 30 percent to NZ$71 million ($47.46 million) in the six months ended in December, the company said in its half-year earnings statement on Thursday.
The company posted total half-year revenue of $513.7 million, up 13.8 percent, citing the strong performance at its Auckland casinos and growth in its international business as well as decreased funding costs from lower interest rates.
"The continued momentum in Auckland reflects the benefits of the significant investment in the property over the past few years," said CEO Nigel Morrison in a written statement.
The company's international business delivered record activity during the half-year with turnover increasing 51.4 percent to $7.2 billion.
It noted its struggling Adelaide Casino had improved, but still faced challenges.
The casino operator announced an interim dividend of 10.5 cents per share, compared to a 10 cents per share dividend in the same period in 2015.
The stock was largely unchanged after the results, which were in line with analysts' expectations.
Looking ahead, the company said the January trading period "has broadly seen a continuation of the trends exhibited during" the first-half of 2016. ($1 = 1.4961 New Zealand dollars)
