Ainsworth Game Technology is one of the leading brands which provides the Australian market with sloth machines and many entities seem to rely on its services. Information was issued this Tuesday that the net profit performance of the company has seen a plunge in the first half of its financial year 2018 amounting to some 52.9 percent in comparison to the same time period last year. According to the management of the company, the said data was affected by 2017 adjustment.
The company’s headquarters are located in New South Wales and ever since 1995 Ainsworth has been providing the industry with gaming devices which aim to deliver great casino experience to their users. However, the beginning of this financial year has been quite rough to the slot machine supplier when it comes to the net profit after tax which it has been able to amass for the first half of the financial year. Listed in the report of the company which was submitted to the Australian Securities Exchange was the sum A$9.7 million (US$7.6 million) which amounts to a 52.9 percent drop year-on-year.
It should be taken into account that back in 2017 during the first half of the financial year, the company amassed A$20.6 million. Officials at Ainsworth Game stated that the difference between the two figures is caused by a one-off adjustment which was made during the previous time period. It amounted to A$8.6 million and it was related to the reversal of previously-recognized deferred taxes which came as a result of previous operations with foreign currency. This eliminates any speculations that the company is going under or failing to meet the expectations of its customers.
Revenue Performance of the Slot Machine Supplier
In addition to that, the normalized profit after tax saw a 16.6-percent drop in comparison to the same time period a year ago. At the moment the said profit amounts to A$13.6 million, whereas exactly one year ago the company placed the mark at A$16.3 million. All this information is equally as important as the total gaming revenue generated by the company over the span of six months which ended on 31st December 2017. During the said period of time, the company managed to bag some A$120.3 million which equals a 2.0-percent drop compared to the situation a year prior to that.
The said data relates to the operation of the company in the Australian market, but Ainsworth also works on an international level, where the general performance seems to show better results. The company issued information that the revenue generated from its global operations has witnessed a 2 percent surge in comparison to the same time period last year and at the moment it is estimated to A$83.2 million.
At the same time, the overall performance of the company in its home Australia was not the most impressive, as it reached a 10-percent plunge year-on-year. Currently, the revenue amounts to A$37.1 million. Meanwhile, the management of the slot machines provider is focusing on developing internationally and exploring new markets, as well as working domestically.