An excellent half year result as expected: net profit up 17%. The rugby world cup came through for them, even if management said the $4.7m lift in profit was less than expected. What is encouraging is the 6.9% sales lift in Adelaide, for so long the problem child of the Sky City family. The comment that the momentum has continued at the Auckland site beyond RWC is very encouraging.
I really would have expected, given the outlook, the SKC share price to lift to these $3.65 levels last year. Nevertheless I am happy it has finally got there.
SNOOPY
discl: very happy holder