Skyline profits fall after Christchurch write down


Skyline Enterprises, the owner of the Queenstown gondola and other tourism businesses, reported an 18% drop in profits due to soft trading at its Christchurch casino, which has not seen visitor numbers increase since the earthquakes last year. The company reported a distributable profit of NZ$16.6 million (S$13 million) for the year ending March 31, 2013, down from NZ$20.3 million from the previous year.