Aristocrat confirms ‘outstanding’ performance in first half

Aristocrat Technologies has followed up on an initial announcement earlier this month by revealing it achieved “outstanding” year-on-year growth in the six months to March 31.

Revenue in the first half came in at over Aus$1 billion (€650.9 million/US$737.1 million), up 47.4% from the Aus$685 million posted in the corresponding period last year.

Earnings before interest, tax, depreciation and amortisation hiked 53% year-on-year to Aus$372.4 million, with net profit after tax rocketing 105% to Aus$159.1 million.

Aristocrat had initially said that net profit after tax would total Aus$138 million, with today’s (Thursday) results confirming a figure ahead of analysts’ expectations.

Elsewhere, net debt was cut by 16.8% to Aus$1.2 billion, while interim dividend per share climbed by 25% to 10 cents.

Jamie Odell, chief executive and managing director of Aristocrat, said “Aristocrat delivered outstanding results over the first half of fiscal 2016, representing our 10th consecutive period of earnings growth.

“This fact underlines the sustainability of our performance and the quality of the strategy upon which it is based.

“Our focus on growing share and profitability by investing in compelling product portfolios, targeted to priority segments and supported by improving execution, is delivering tangible and sustained results, despite generally flat and highly competitive market conditions.

“Our expectations for the full year are set out in the trading update issued to the market earlier this month.”

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