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."