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Re: Re: [sharechat] SKC- Another good result!

From:	"G Stolwyk" <stolwyk@wave.co.nz>
Date:	Tue, 21 Aug 2001 20:56:01 +1200

Snoopy,

I never expected much from Queenstown. It is a relative small business in relation to the overall size.

The staff at the Auckland casino are on a new incentive bonus, the PPI scheme for salaried staff, while the waged staff are on a CEI scheme.

The first are paid in cash and shares while the latter are paid in cash in addition to the normal wage.

While profits increased by 16%, the gaming has increased by 10%.

I agree that there have been some "less fortunate investments". No doubt, some investors will raise this at the Annual Meeting, which I normally attend.

Gerry

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