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Aristocrat Leisure posts six-month results

Land-based and online casino games and solutions supplier saw total revenues for six months to March 31 drop by 7.5 percent year-on-year to AUD$383.2 million ($369.1 million).

Thursday 30th May 2013

Australian land-based and online casino games and solutions supplier Aristocrat Leisure Limited has published its financial results for the six months to the end of March showing a 7.5 percent year-on-year decrease in total revenues to AUD$383.2 million ($369.1 million). The Sydney-based firm revealed that its six-month earnings before interest, tax, depreciation and amortisation rose by 0.3 percent year-on-year to AUD$95.4 million ($91.9 million) although earnings before interest and tax for the period dropped by 1.2 percent when set alongside the comparable period to AUD$75.3 million ($72.5 million). Aristocrat Leisure announced that its net profit after tax for the period improved by 11.2 percent year-on-year to AUD$52.6 million ($50.6 million), which it stated represented a 13.1 percent rise ‘in constant currency’, while its closing six-month net debt recovered by 23.1 percent when set aside the comparable period to AUD$185.1 million ($178.3 million). “Our half-year results demonstrate that Aristocrat Leisure’s fundamentals are continuing to improve with our fourth consecutive period of double-digit net profit after tax growth, strong operational performance led by compelling games and ongoing cost discipline,” said Jamie Odell, Chief Executive Officer and Managing Director for Aristocrat Leisure. “This positive momentum has allowed the business to refresh our strategy, fund acquisitions and invest in share-taking opportunities in both existing and emerging segments. We are fully focused on driving sustainable value and returns beyond our turnaround window. “We expect second-half net profit after tax performance to be broadly in line with the first half. This will deliver continued growth in normalised profit after tax over the full-year to September 30 compared to the prior twelve months to September 30, 2012. “We anticipate positive operational performance compared to the first half partially offset by an increase in design and development investment as we ramp up spend to unlock opportunities in line with our strategy. This guidance assumes one further game release in Japan in the second half and the prevailing Australian to United States dollar exchange rate. “The enhanced capital management initiatives the board has announced today are also underpinned by ongoing improvement in the group’s financial position and the steady progress being made in our content-led strategy to grow sustainable value.”

Source: OnlineCasinoNews

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