Forum Archive Index - August 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

 

SKC delivered a NPAT: $ 70.1 mill., up 16% from last year.

 

A 35 cent fully imputed dividend to be paid on 5 October.

 

This, together with the interim of 28 cents amounts to an annual 63 cents dividend compared with 56 cents last year, an increase of 12.5%.

 

This  increase is less than the increase in profit and would be as a result of high capital expenditure ( Hamilton, Adelaide, Queenstown). 

 

There was the outstanding argument about tax of preopening expenditure dating back to 1996.

 

 Shareholders should be pleased that this has been resolved at a non recurring cost of only $ 1.8 mill. Very satisfactory, I thought!

 

As to FOR, Stockness refers to an upcoming cash issue of some $ 30 mill. dollars, to be underwritten by SKC. 

 

Presumably, SKC will finish up with most of the FOR shares, I think.

 

Anybody wanting to comment on SKC or FOR?

 

Gerry