SKC 0.55% $3.60 skycity entertainment group limited

final results ($nz)

  1. 22,691 Posts.
    SKYCITY Entertainment Group Limited
    Managing Director’s Review
    Year Ended 30 June 2003
    GROUP RESULT : KEY ELEMENTS

    Net Surplus After Tax of $107.2m up 26% on last year ($85.1m before nonrecurring items)

    FINAL DIVIDEND FY03
    · 26.0 cents per share (22.5cps 2002). Entitlement date 19 September. Payment date
    3 October

    KEY ELEMENTS OF THE FY03 PERFORMANCE
    · Revenues up $46m
    · Gross Margin up from 54% to 55%
    · EBITDA up from 43% to 45%
    · Net Surplus before tax up $29m
    · Net Surplus after tax up from 17% to 19%

    SKYCITY ENTERTAINMENT GROUP LIMITED KEY FEATURES OF FY03
    · Revenues increased at Auckland, Adelaide, Queenstown, Canbet
    · New revenue stream, Hamilton
    · Cinema revenues up 5% at SKYCITY Leisure
    · Margin gains in Auckland, Adelaide, Queenstown
    · Strong first “year” (9.3 months) at SKYCITY Hamilton
    · 26% increase in net surplus after tax

    SKYCITY AUCKLAND
    FY02 Result
    · Strong result, growth continues, costs managed, margins maintained
    · Revenues up 8% (+$27.2m)
    - Gaming up 8% (+$23.0m)
    - F&B up 10% (+$2.7m)
    - Hotel & Conference up 7% (+$1.3m)
    - Sky Tower up 7% (+$0.5m)
    - Carparking up 1% (+$0.1m)
    · Gross Margin up 0.5% points at 64% (+$19.8m)
    · EBITDA up 0.6% points at 53% (+$16.6m)
    · EBIT up 1.3% points at 46% (+$17.4m)
    ++++++++++++++++++++++++++++++++++++++++

    From "Sharetrader":
    My comment:

    25/08/2003 : 8:11:45 PM :

    Profit average of 5 brokers $ 106.2 mill.

    I had down $111 mill. and reduced it to $105 mill. due to expected fall-out from SARS. Later when I suspected that SARS didn't make that much difference apart perhaps from less hotel visits, I increased the profit to $108 mill (see page 14, date 28 July):
    ______________________________________
    Date 26/8/2003:
    The actual profit was $107.2 mill. and my guided forecast was $108 mill. Actual divdend for the year is 47 cents while I forecasted 45 cents based on a lower payout %.

    I am quite pleased as the effect of SARS could not be ascertained.

    Altogether a position of strength.

    Gerry
    Please do your own research and you decide if and when to buy, hold or sell any stocks.






 
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