Ainsworth Financials Slide for Year

Australian betting group Ainsworth Game Technology has released their fiscal results for the year, noting that profits and revenues were down from the year prior.

Key financial indicators for the year ending June 30th, 2018 were:

  • Profits of $23.3 million, down 15.8% from the year prior
  • Revenues down 5.8% to $194.2 million
  • Pre-tax profits down 9.8% to $30.9 million
  • EBITDA down 3.3% to $49.7 million
  • Adjusted EBITDA down 19.6% to $49.4 million

The company attributed its lower numbers to a drop in sales in Asia, New Zealand, and Europe.

Commenting on the results company CEO Danny Gladstone said, "Our performance continues to show signs of improvement and is a direct result of the strategies implemented to expand our international footprint, invest in technology to enhance our product suite, and build our participation fleet to improve the quality of our earnings."

"We will continue to judiciously invest our cash flow in product improvements and innovation, and sales and marketing while retiring debt and rewarding shareholders. In fiscal year 2019 we expect to release a new suite of products which should assist in translating to improved financial results."

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bgsharpe
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5 September 2018 - 7:31pm
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Their CEO sounds optimistic despite the numbers being down from the year prior and I wonder if that's an honest opinion or his just diplomatic, but whatever..I think the competition amongst game developers really increasing as of late and probably some of the brands would struggle because of it.
Maybe this not necessary means a lack of quality but perhaps not great marketing strategies compared to the rivals which's probably a vital part of the business these days.