SkyCity flags FY21 profit of $68.2 million on strong domestic tourism

Australia-listed SkyCity Entertainment Group has flagged normalized NPAT of between $84-88 million for the financial year ending June 30, provided there are no more property closures for the remainder of the month.

In an earnings guidance sent on Friday, the company said whilst its tourism related businesses in New Zealand and South Australia continue to be impacted by border closures, it is benefitting from domestic tourism particularly and weekends and holiday peaks. 

SkyCity added that based on its earnings guidance for FY21, it expects to comfortably meet its financial covenants for the June 30, 2021 testing period and pay a final dividend in September. 

Company release