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Millennium & Copthorne Hotels New Zealand (MCK) briefings

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Showing 1-9 of 9 published briefings.

Millennium & Copthorne Hotels New Zealand (MCK)•FY25•Released 24 February 2026

PBT fell 29.9% as hotels result halved and capex doubled to NZ$52.3m

Headline NPAT up 621.4% reflects tax normalisation; pre-lease FCF turned to -NZ$26.5m as cash halved and borrowings rose sevenfold.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•HY25•Released 12 August 2025

Refurbishment capex of NZ$44.0m drove pre-lease FCF to -NZ$39.6m

Hotels revenue grew 15% but a property cooldown and a near-sixfold capex jump pushed MCK from net cash to NZ$13.9m net debt.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•FY24•Released 24 February 2025

PBT down 27.1% as property cooldown overwhelms hotel revenue surge

Hotel revenue nearly doubled but earned less profit than FY23, and a one-off deferred tax charge took NPAT 93.0% lower to NZ$2.8m.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•HY24•Released 7 August 2024

PBT jumped 87% but NPAT swung to a $11.7m loss on tax distortion

A 147.2% effective tax rate from a non-cash adjustment masked an underlying hotels turnaround and 42% revenue rebound.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•HY23•Released 8 August 2023

NZ$22.7m unprecedented working-capital build absorbed nearly all cash flow

Hotels returned to profit and PBT fell 64.2% on weaker property sales, but receivables jumped to NZ$22.5m and pushed OCF down 82.6%.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•HY22•Released 10 August 2022

Land sales drove 99% of PBT as hotels lost NZ$3.9m and NPAT fell 39.1%

Revenue fell 14.9% and operating cash halved, with hotel reopening yet to translate into segment profitability.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•FY21•Released 18 February 2022

PBT up 26.9% but operating cash flow fell 66.3%

A one-off land sale gain lifted hotel PBT and the dividend resumed, but cash conversion fell from 142.5% to 39.9% of EBITDA.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•HY21•Released 2 August 2021

PBT up 57.4% on CDL and property sales while hotels yielded $33k

Pre-lease FCF hit an unprecedented $53.9m and net debt swung to net cash, but hotel operations remain near zero and reported NPAT fell 25.8%.

Published 22 April 2026

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Millennium & Copthorne Hotels New Zealand (MCK)•FY20•Released 17 February 2021

Hotel PBT collapsed 94% as CDL and a 10.6% tax rate held group NPAT at -7.4%

Revenue fell 25.1% and PBT fell 40.4%, but reported NPAT looks resilient because non-hotel segments and an unusually low tax rate carried the result.

Published 22 April 2026

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