Aristocrat Leisure : Net Profit Jumps on Deferred Tax Asset

By David Winning

SYDNEY--Aristocrat Leisure Ltd. said its annual net profit rose by 97% as it benefited from a deferred tax asset, and said a decision to pay a dividend reflected its effective response to the coronavirus pandemic and improving performance.

Slot-machine and digital games maker Aristocrat reported a net profit of 1.38 billion Australian dollars (US$1.0 billion) for the 12 months through September, up 97% on a year earlier. The result was boosted by the recognition of a A$1.1 billion deferred tax asset.

On a normalized basis, Aristocrat said its annual net profit fell by 53% to A$357.1 million. Revenue declined by 5.9% to A$4.14 billion, reflecting a 32% drop in land-based sales that was driven by the impact of venue closures and social-distancing restrictions on venues.

Directors of the company declared a final dividend of 10 cents per security.

Write to David Winning at [e-mail]

(END) Dow Jones Newswires

11-17-20 1704ET