Ainsworth after tax profit falls 53 percent in FY18H1

Australian gaming supplier Ainsworth Technology saw its profit after tax more than half during the first half of the 2018 fiscal year, due in part to a fall in domestic revenue, as well as a one-off tax adjustment realized in the prior year.

Net profit after tax reached A$9.7 million, down 53 percent year-on-year from A$20.6 million.

Domestic revenue fell 10 percent to $37.1 million, while international revenue increased slightly to $83.2 million.

EBITDA fell 23 percent to $24.6 million in the six month period.

Ainsworth said the results were in line with its expectations, and expected good momentum into the second half of the financial year.

In particular, the company noted its strong market position in North America, and consistent sales growth in Latin America.

While it admitted that it has continued to see a challenging and competitive market conditions in Australia, Ainsworth says it expects a recovery in market share in FY18H2.

“Our first half results provide a solid base for a strong second half performance. We enter H2 with good momentum and we are making continuing progress in growing in the Americas where our innovative technologies perform well,” said CEO Danny Gladstone.

The board has recommended an interim dividend of 1.5 cents per ordinary share.

SHARE

Related Articles

Ainsworth stock tumbles on projected H1 loss

Shares in Ainsworth Game Technology fell 8.5 percent in Australian trading on Thursday after the company told investors that it expected to post a loss of about $15 million in the first half of the fiscal year, due to continuing difficult trading conditions.
Suppliers get igaming boost

Suppliers get igaming boost

Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
Ainsworth and Jade ink distribution accord

Ainsworth and Jade ink distribution accord

Ainsworth Game Technology and Jade Entertainment have entered into an agreement to distribute Ainsworth Products to the Philippines, Vietnam and Nepal.
novomatic slots

Dancing Tiger & Dancing Lantern by NOVOMATIC

The latest game releases for the NOVO LINE Interactive platform add two special Asian highlights to the broad NOVOMATIC game portfolio.
Ainsworth swings to 2020 loss, focuses on game content

Ainsworth swings to 2020 loss, focuses on game content

Ainsworth Game Technology said it will prudently invest in research and development to position itself for a long-term post-pandemic recovery.

Ainsworth’s A-STAR shines

As we emerge from the shadows of Covid-19 it’s time to revamp gaming floors with the brand new A-STAR cabinet by Ainsworth.

Ainsworth sees progress in online gaming

Ainsworth Game Technology is the latest supplier to point to progress in its online offerings, as Covid-19 hits the land-based side of the business.
Ainsworth swings to 2020 loss, focuses on game content

Ainsworth reports declines in sales and profitability in FY20H1

Australia-based slot machine maker Ainsworth Game Technology reported year-on-year declines in both sales and profitability in the six month period ending December 31. Total revenues stood at A$107.3 million, which was a 9 percent decline. Losses after taxes were -A$3.8 million, compared to a profit of A$12.1 million the previous year. The regions which suffered […]