Not easy to see through all the ‘normalisation’ in the Sky City reports
Maybe aim is to bambozzle everybody with science
http://nzx-prod-s7fsd7f98s.s3-websit...343/316639.pdf
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Not easy to see through all the ‘normalisation’ in the Sky City reports
Maybe aim is to bambozzle everybody with science
http://nzx-prod-s7fsd7f98s.s3-websit...343/316639.pdf
IB business down 40% probably be down even more next results as virus impacts travel in the current period , also affect hotel bookings going forward too
Absolute joke having reported and normalised, just exited the presentation after reading that. Be upfront with your business financials.
There is a good reason for having normalised and reported and having both results with a reasonable explanation of them just gives you more information to understand the business. They don't seem to be trying to hide anything? The normalised results are much worse than the reported....
Companies on the NZX do have to report to set formats - but as per usual, the set formats end up creating confusion, hence the normalized results.
In the good old days, companies were free to use their 'judgement' to present as they saw fit - so the likes of Fay Richwhites had a field day changing their accounting policies one period to the next as it suited them.
So what are the pertinent points about the normalized results?
EBITDA down 10.7%, NPAT down 16.4% and EPS down 15%.
Forecast FY2020 normalized NPAT of $130m vs $173m FY2019 - down 25%, so company expecting a massive 34% drop in 2H NPAT.
I think SKC
SCAM or ERROR?
People, this is not quite the usual forum for such a post but I would like some local educated opinion on my recent experience.. dined at one of Sky City’s flagship restaurants on Sunday night. $240 bill seemed a bit steep given what we had ordered. Checked the math, as is my habit - and it only added up to $180..
Expressed my puzzlement to front of house staff who (too) quickly apologised and said it was the waiter’s error and that he had put “meal 2” (??) in by mistake. I said “ok but it looks like your machine doesn’t add up the amounts correctly... that must be programmed in deliberately...??” and so they quickly took some wine off the bill as well..
To be clear, this wasn’t adding in an extra bottle of wine. It was purposeful mis-adding. So, wise and savvy investor peoples, has anything like this happened to you? Is it a scam? A way to boost profits?? Or is the error explicable?
answers please...
Haven't had this happen to me.. But haven't dined in those restaurants either..
If you still have a copy of the bill I would forward a copy of it to the commerce commission and also a copy to the CEO of SKC.
Good on you for checking the bill... It's a great reminder to all of us to do the same!
Just to be clear--The initial $240 bill had the same food and quantity you ordered? -if yes then it could be a totaling mistake by the machine and is not human error...
Skycity uses or used to (not sure now)one of the top of the line billing systems which is used in restaurants and hotels all over the world(micros-fidelio)...My wildest guess would be a programming error..I doubt Skycity would do it deliberately.