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SkyCity expects to report 30.2 percent earnings gain for H1


New Zealand-based casino operator SkyCity Entertainment Group expects to report net profit rose by 30.2 percent to NZ$71 million (US$47.4 million) in the first half of 2016 financial year ended Dec. 31, 2015.

Total revenue is up 13.8 percent to NZ $513.7 million, compared to NZ $451.5 in the previous corresponding period. Earnings per share went up 12 cents per share, a 29 percent change compared to 9.3 cents in 2014.

The company attributed the strong results to improved performance across all properties including continued growth in its Auckland, Adelaide, Hamilton and Darwin operations. The company also cited lower funding costs as a factor in their strong results.

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