Domestic tourism is significant to the NZ economy, and ever since the pandemic related challenges began, the Government is strongly backing the sector. As part of the government’s tourism recovery plan, twenty-six Inbound Tour Operators (ITOs) have been approved for an NZD 20 million loan scheme. Once borders re-open, ITOs shall play a significant role to rebuild visitation by linking overseas wholesalers and travel sellers with New Zealand tourism businesses.
Metlifecare Limited (NZX: MET) has received preliminary orders from the High Court to get shareholder approval of the scheme of arrangement with Asia Pacific Village Group Limited (APVG). The scheme consideration is NZ$6.00 per share. The Independent Adviser, Calibre Partners, has calculated the value of the company’s shares to be in between NZ$5.80 to NZ$6.90 per Metlifecare share.
For the financial year ended 30 June 2020, SKYCITY Entertainment Group Limited (NZX: SKC) reported EBITDA of $348.3 million, and normalized EBITDA stood at $200.7 million. These results are at the top-end of the guidance range provided at the time of equity raising in June 2020. The company’s reported NPAT stood at $235.4 million and normalized NPAT stood at $66.3 million.