Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Skyline Enterprises keeps FY dividend unchanged

Skyline Enterprises keeps FY dividend unchanged on flat earnings

By Paul McBeth

July 10 (BusinessDesk) - Skyline Enterprises, the Queenstown-based tourism company whose shares trade on the Unlisted platform, will pay shareholders the same dividend for the 2014 financial year as underlying earnings were largely flat from a year earlier.

The board has elected to pay a dividend of 37 cents per share, or $12.6 million, for the year ended March 31, unchanged from a year earlier, when it lifted the return by 3 cents, it said in a statement. Earnings before revaluations, amortisation, depreciation, tax and insurance proceeds slipped to $25.3 million from $26.2 million. Subject to audit confirmation, pre-tax profit climbed to $52.8 million from $17.2 million due to $27.7 million of gains from property revaluations, insurance proceeds, a reduction in write-offs and amortisation, and full ownership of the Christchurch casino, it said.

"With trading results on par with last year, the continued investment in offshore luge and reinvestment in our established businesses, directors have adopted a prudent approach in terms of the dividend payment," chairman Mark Quickfall said.

Shares of Skyline last traded at $11.20, valuing the tourism company at $381.3 million.

Skyline's Queenstown gondola business reported record visitor numbers last year, while the Rotorua gondola result was slightly ahead of the year earlier, the company said.

Its international luge was in line with the 2013 result, and construction of the Korean operation is expected to be open in late 2015.

Its Totally Tourism unit, which it acquired in 2011, reported flat earnings, and Skyline is looking for operational efficiencies to improve the performance, it said.

The Christchurch casino reported an 8 percent increase in guest numbers, though is still below the pre-earthquake levels, while its Mercure Leisure Lodge and Blue Peaks Lodge properties reported strong growth in occupancy rates.

Skyline will hold its annual meeting on Sept. 13.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Constructions Builds: Consents Top $2 Billion For The First Time

Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016. More>>

Other Stats:

Health: Work Underway To Address Antimicrobial Resistance

As part of a global response the Ministries of Health and Primary Industries have today jointly published ‘Antimicrobial Resistance: New Zealand’s current situation and identified areas for action’ to respond to the changing pattern of antimicrobial resistance in New Zealand. More>>

ALSO:

Employment: Vodafone Announces Family Violence Policy To Support Team

From today, any of Vodafone’s 3,000 workers affected by family violence will be eligible for a range of practical support, including up to 10 additional days of paid leave per year. More>>

Burning Up Over Saturn: Cassini's Grand Finale

With propellant running low, NASA scientists are concerned that the probe might accidentally crash into one of Saturn’s nearby moons, which could contaminate it with Earthling bacteria stuck to the spacecraft. Instead, the spacecraft will be safely "disposed" in Saturn's atmosphere. More>>

ALSO:

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news