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Skycity's Auckland assets will be a point of focus following a ''roller-coaster year'' in the lead-up to the delivery of its full-year result today.
The performance of SkyCity's Australian assets are coming under pressure on several fronts; both operationally and with redevelopment plans in progress.
Forsyth Barr broker Suzanne Kinnaird said she expected a ''modest'' decline in earnings before interest, tax, depreciation and amortisation, down about $6million on last year, or 1.8%, to $324million.
''There is pressure across its Australian properties and a material decline in international business outweighing growth in Auckland and Hamilton,'' she said.
While normalised profit was expected to be up 2.4% to $156.4million, she expected earnings per share to decline by 7.7% to 23.6c per share, given the recent capital-raising meant more shares on issue.
The ''roller-coaster year'' came from trading declines in the first, then third quarters, either side of strong trading in the second quarter.
Mrs Kinnaird looked for fourth-quarter growth, ''particularly given the substantial investment being made and recent concessions,'' she said.
''SkyCity has committed to two major expansion projects in Auckland and Adelaide which are large, complex and challenging, but directly relate to its core areas of expertise and leverages the existing businesses,'' she said.
While timelines for Auckland and Adelaide had been recently updated, Mrs Kinnaird expected more detail on both projects, including updated capital expenditure timings.