Profits up for Skyline, but Queenstown upgrade costs soar to $310m

Profits up for Skyline, but Queenstown upgrade costs soar to $310m
Gondola revamp has blown out by $60m. (Image: Skyline)
Brent Melville
Gondola and adventure park operator Skyline Enterprises lifted pre-tax earnings 13% to $29.6 million on $106m in revenue for the half year to September, up 16% on the prior year on the back of an influx of tourists into its New Zealand, Canadian and Singaporean parks.Chair Peter Treacy said the group had benefited from resurgent travel, which had delivered "good numbers", allowing Skyline Queenstown to recoup two months of lost earnings during its gondola upgrade. Construction costs for the total project – extending to a ne...

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