Investors unimpressed with Skycity's returns

Skycity Entertainment Group reported a full year profit up 12.9 per cent to $120.1 million today, but the result left investors unimpressed.

In the hours after the announcement, the company's share price fell more than 4 per cent, at one time taking it down 23c to $5.14.

Managing director Evan Davies said the share price fall was probably a result of some misapprehension about the results for the company's Auckland business, the "principal driver within the group overall".

He did not share that view and considered Auckland to be performing well and was confident in the way it was moving forward.

- NZPA