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.
"Aristocrat continued to take share and maintained its leadership of key gaming markets and segments over the full year, with an increased focus on customer service and engagement," Chief Executive Trevor Croker said. "Continued investment in new hardware and games delivered superior operational performance and supported resilient demand."
Turning to the outlook, Aristocrat said it was planning for continued growth in the 2021 fiscal year. That partly reflected more growth in digital bookings, with user acquisition spend expected to remain between 25% and 28% of digital revenue overall.
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(END) Dow Jones Newswires