Poker machine supplier Aristocrat Leisure has again reported a strong performance – this time for the first half of the 2016-17 financial year, and upgraded interim dividend by 40%.
The company yesterday reported a 57% jump in half-year net profit to $249.6 million, thanks to strong growth in its Americas business.
The company on Thursday said revenue for the six months to March 31 rose 21.6% to $1.23 billion.
It declared a partially-franked interim dividend of 14 cents a share, up from 10 cents a year ago.
The company said underlying earnings were up 53% to $272.9 million in the six months to March 31.
The first result under new chief executive Trevor Croker was ahead of market expectations.
Aristocrat’s total revenues jumped 24.6% to $1.2 billion.
The shares rose 3.9% to $21.04.
The company said strong growth in its Americas business droveathe $64.7 million improvement in post-tax profit in the March six months from a year earlier.
The group’s digital social gaming business, which includes the Heart of Vegas suite of games and Cashman Casino, also reported strong growth as did its international Las Vegas style slot machines business.
Aristocrat has confirmed its expectations of normalised profit growth of 20% to 30% for the full year to September 30.
That means a noticeable slowdown in the current six month period from the 57% growth rate of the March half year.
New CEOTrevor Croker said the company’s first-half results were "outstanding" despite a competitive market.
Mr Croker said a strong balance sheet, lower debt and substantial liquidity gave the company flexibility for continued investment.
"Aristocrat is fully focused on growing our core business while investing wisely to capture attractive opportunities in adjacent segments and markets over time," he said.
Mr Croker took over from Jamie Odell in February. He is based in Las Vegas.
