Earnings before interest, tax, depreciation, amortisation and changes in financial instruments fell to $221 million in the six months ended December 31, from $278 million a year earlier on a continuing operations basis, as low lake levels reduced hydro generation and gas shortages increased fuel costs.
For the three months ended Dec. 31, 2019, the Hercules, California-based firm reported $624.4 million in revenues compared to $616.8 million in the year-ago period. On a currency-neutral basis, quarterly revenues increased approximately 2 percent year over year. On average, analysts had expected revenues of $642.0 million for the quarter.
SkyCity Entertainment Group reported a 7.9 per cent decline in underlying earnings, although the result was overshadowed by its insurance claim for the international convention centre fire. The company reported net profit of $328 million for the six months to December 31, more than triple that in the same period last year. This was mainly due to recognising income for the insurance claim and from the car park sale.