Tourism Holdings led the local market lower, sinking 6.4 per cent to $2.80 on a volume of 269,000 shares. Among other travel and tourism stocks, Auckland International Airport fell 2.9 per cent to $8.40 on a volume of 1 million shares, Air New Zealand fell 2.8 per cent to $2.74 on a volume of 1 million shares and SkyCity Entertainment fell 1.9 per cent to $3.57 on a volume of 954,000 shares.
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.