Aristocrat Leisure, a renowned gaming industry giant, has released its H1 revenue report. The figures reflect an upward trend with an impressive AU$3.08bn ($2.05bn) in operating revenue. This represents a considerable 12% increase on a year-on-year basis.
Rise in EBITDA and Profit After Tax
The company didn’t stop at revenue gains; it also enjoyed a 6% surge in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), accumulating to a total of AU$1.02bn. Profits after tax exhibited a similar positive trajectory, showing a significant 27% rise to hit AU$653m.
Share Price Fluctuations
In the days leading up to the publication of the financial results, Aristocrat’s share price experienced a dip, hitting a low of AU$36.72. However, it swiftly rebounded in the subsequent days, standing at AU$38.50 at the time of writing, albeit still marginally down overall.
CEO Comments on Performance and Challenges
Aristocrat’s CEO and Managing Director, Trevor Croker, expressed satisfaction with the robust results despite the difficult market conditions and uncertainties such as the ongoing conflict in Ukraine. In his words, “Aristocrat delivered a quality result over the period, demonstrating the ongoing resilience, competitiveness, and diversification of our portfolio. I am tremendously thankful for our teams’ efforts.”
Exciting Acquisition on the Horizon
Aristocrat Leisure isn’t resting on its laurels. The company recently unveiled plans to acquire NeoGames for $1.2bn, marking a significant move towards tapping into new growth sources. Croker commented on this strategic acquisition, stating, “Looking ahead, we will continue to navigate challenges with a focus on portfolio performance and capturing the significant strategic opportunities in front of us, including delivering on our online RMG strategy with the proposed acquisition of NeoGames announced earlier this week.”
Considering the robust H1 results, Aristocrat’s move to acquire NeoGames seems like a well-considered strategy to fuel further growth and diversification.
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