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Burswood Blames Shortfalls on War Threat19 February 2003AUSTRALIA – As reported by the West Australian: "Casino group Burswood conceded yesterday that war in Iraq threatened to kill any chance of it hitting its full year profit target. "Managing director John Schaap painted a cautious picture after revealing Burswood's interim profit slumped 61 per cent to $4.5 million (US$2.67 million) and the dividend had been slashed from 2¢ to just 0.75¢. "Mr Schaap said he believed the group could still achieve a full year result similar to last year's $20.6 million (US$12.24 million). "…`I hate to speculate, but there is no doubt that if there is some outbreak of activity, people will think twice about travelling by air which is very important to our business.' "…And Burswood had still not completely thrown off the lingering effects of the Ansett collapse and the September 11 terrorist attacks of 2001, he said. "Mr Schaap warned that any shrinkage in visitor numbers would force the company to again review its cost structure…" |