SkyCity shares fall on lack of 'pizzazz' in annual earnings

Wed, 09 Aug 2017

By Rebecca Howard Aug. 9 (BusinessDesk) - SkyCity Entertainment Group shares fell 3.9 percent after a tepid full year earning result, with investors predicting analysts will downgrade the stock. The shares dropped as low as $3.90, a two-and-a-half month low, and were recently down 16 cents at $3.94 after the Auckland-based casino and hotel group today reported a 1.3 percent increase in normalised net profit to $154.6 million in the year ended June 30, while normalised revenue dropped 4.9 percent to $1.03 billion. "It was just a bit med...

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