SkyCity has updated its earnings guidance for the 2024 financial year, citing a challenging economic environment and operational issues.
The company now expects underlying group earnings before interest, tax, depreciation and amortisation (EBITDA) to be between $280m and $285m, while underlying group net profit after tax (NPAT) is projected to be between $120m and $125m.
This is a decrease from the previous guidance of $290m to $310m for underlying group EBITDA, and $125m to $135m for underlying group NPAT.
SkyCity also provided an early outlook for the 2025 financial year, anticipating continued trading challenges and the impact of one-off items.
As a result, the company's board has decided to suspend dividends for the second half of 2024 and the entire 2025 financial year.
SkyCity will release its full-year results for 2024 on August 22.
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