H1 earnings up more than 50% for Aristocrat

H1 earnings up more than 50% for Aristocrat

Tuesday, May 30, 2017

Global slots giant Aristocrat Leisure has reported a 56.9% increase in profits for the first half of the year, driven by strong sales growth in the Americas and Asia.

In the six months to March 31, revenues for Aristocrat, which is licensed by over 240 regulators around the world, totalled A$1.3 billion, up 21.6% on the prior-year period.

Net profit after tax for the ASX-listed group rose 56.9% to $249.6 million.

According to Aristocrat, the results reflect the “strong performance” delivered across the group’s global portfolio, particularly growth in the company’s Americas, Digital and International Class III businesses, supported by sustained momentum in Australia.

In first half of fiscal 2017, strong sales in Aristocrat’s Americas business saw a $64.6 million improvement in post-tax profits. This growth was driven by a 32% expansion in the group’s Class III premium gaming operations footprint.

Aristocrat’s International Class III division drove a $34.5 million improvement in post-tax profit compared to the prior period, driven primarily by large-scale openings in the Philippines, Malaysia and South Africa.

The company’s business in Australia and New Zealand maintained its position in the market, bolstered by the top performing Helix cabinet, further penetration of Lightning Link, Player’s Choice and the introduction of the Dragon Link family of games.

Aristocrat’s digital business, meanwhile, delivered strong earnings growth due to the continued success of Heart of Vegas and the launch of Cashman Casino in the period.

Discussing the first-half results, Aristocrat’s chief executive officer and managing director, Trevor Croker, said: “Industry leading content, hardware and technology translated into exceptional operational performance despite competitive market conditions.

“Aristocrat is fully focused on growing our core business while investing wisely to capture attractive opportunities in adjacent segments and markets over time.”

Looking ahead, Aristocrat said it expects its profit growth for the full year to be in the range of 20-30%.

Totally Gaming says: Aristocrat is focused on developing new slots innovations for markets around the world – and the company’s strong balance sheet will no doubt provide the business with ample flexibility for continued investment over the coming months.

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