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RE: [sharechat] Sky City Instalment Receipts

From: Sarah Corkill <>
Date: Wed, 24 Nov 1999 09:31:54 +1300

Dear Brian,

Sky City Installment Receipts (SKCCA) will track the performance of their
head share SKC minus the second installment of $3.55 due before 29/03/99.
As the head share is currently trading at around $7.20 less $3.55 = $3.65 -
about the current share price.

A cheap price considering the recent article in the Headliner (16/11)
article stating "Revenues have increased steadily to reach $257m in the
financial year to 30/06/99; gross margin, which began at 58% in 1997 has
been lifted to 65% and EBITDA has been boosted from $88m in 1997 to $121m
last year......... Earnings per share last year stood at 47c and the
dividend paid was 43cps. It is SKC's declared dividend policy to distribute
90% of net profit each year."

Kind regards,

Sarah Corkill
Direct Broking

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