Financial results soar for Aristocrat

Sydney-based Aristocrat recently announced a deal that will see online gaming and sportsbook software supplier OpenBet Technologies develop its slot titles for use over the Internet and revealed that its 2011 profits after tax had increased some 34 percent year-on-year on a constant currency basis.

Aristocrat saw its earnings before tax and interest for the twelve-month period rise 30.8 percent year-on-year to us$ 119.6 million while revenues were up 3.6 percent when compared with 2010 to us$ 765.7 million.

 “Aristocrat’s product offering was revitalised to suit each key market targeting the most profitable segments and this drove share gains in major markets like the United States and Australia,” said Jamie Odell, Managing Director and CEO for Aristocrat. “Even more importantly, this is a high-quality result that is anchored in stronger operational performance and effective execution.”

Aristocrat declared that its 2011 financial results delivered growth that was ‘ahead of the previously adjusted guidance range’ of between ten and 20 percent while revenues and earnings before tax would have been 41 percent year-on-year higher had the Australian and United States dollars achieved parity.
For the year ahead, Aristocrat stated that it expects ‘continued volatility globally due to mixed economic conditions and currency headwinds’ in addition to ‘competitive trading conditions’ along with ‘strong growth in normalised full-year net profits after tax’ with operational performance ‘well ahead’ of 2011.
“Significant new game releases in all major markets, progress in targeting profitable segments and continued cost discipline will drive a further lift in operational performance in 2012,” read a statement from Aristocrat.