SkyCity earnings to remain below pre-covid levels; eyes 2021 dividend

Thu, 03 Sep 2020

SkyCity Entertainment Group expects earnings to improve this year but while they will remain below pre-covid 19 levels it does expect to resume paying a dividend. The company reported normalised earnings before interest, tax, depreciation, and amortisation of $200.7 million in the 12 months to June 30, down 38 percent, and normalised net profit of $66.3 million, down 59.7 percent from a year earlier. Earnings were “significantly impacted” by the fire at the New Zealand International Convention Centre and Horizon Hotel project and by covid...

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