Sky City Limited
1998 Annual Report

Statement of Financial Performance
for the year ended 30 June 1998

  Note Consolidated Parent Company
    1998 1997 1998 1997
    $'000 $'000 $'000 $'000
Continuing Activities          
Revenue          
Sales   239,065 226,752 129 -
Other revenue 2 576 1,070 30,506 40,516
Total Revenue   239,641 227,822 30,635 40,516
           
Expenses          
Operating expenses   138,146 138,551 4,146 4,295
Depreciation   23,790 19,533 166 68
Funding expenses   24,244 22,023 886 149
Pre-opening expenses   5,261 - - -
Total Expenses 3 191,441 180,107 5,198 4,512
Operating Surplus before Non-Recurring          
Expenses and Income Tax   48,200 47,715 25,437 36,004
           
Non-Recurring Expenses          
Pre-opening expenses   23,433 - - -
Management termination fee   20,370 - - -
Total Non-Recurring Expenses 3 43,803 - - -
SURPLUS BEFORE INCOME TAX   4,397 47,715 25,437 36,004
Income tax 4 1,926 11,627 - -
SURPLUS AFTER INCOME TAX   2,471 36,088 25,437 36,004
           
SURPLUS AFTER INCOME TAX          
ATTRIBUTABLE TO:          
Operations   32,097 36,088 25,437 36,004
Non-recurring expenses   -29,626 - - -
    2,471 36,088 25,437 36,004


The accompanying notes on pages 39 to 54 [of the printed annual report]
form part of and are to be read in conjunction with these financial statements.

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