Skycity Entertainment Group, which operates a number of casinos, is maintaining a cautious outlook for its financial performance in 2009.
The company announced an underlying net profit after tax of AUS$55.6m for the half year ended December 31, compared with $55.9m for the first half of the year.
Although underlying revenues were up three per cent on the previous year, EBITDA fell by 1.5 per cent from $152m to $150m. This, it said, reflected the increasing costs of operating in a challenging economic environment.
"We are cautious about the balance of the 2009 financial year and our future performance will be influenced by how the New Zealand and Australian economies unfold," said Nigel Morrison, Skycity’s chief executive officer.
"However, our core operations objective for 2009 remains unchanged, that being to maximise the potential of our existing assets," he continued. "Success for us lies in generating even more reasons to visit and our central focus for the six months ahead and beyond will be to ensure that we’re the entertainment destinations of choice in the cities in which we operate."
