Ainsworth Game Technology pre-tax profit down 57% in 1H17

Company News

by David Chau

Ainsworth Game Technology Ltd (ASX:AGI) earned a pre-tax profit of $15 million in the first half of FY17. This is around 57% lower than its pre-tax profit in the same period last year.

Ainsworth says it’s been a competitive domestic market with reduced corporate and casino purchasing – hence, its first half Australian unit volumes fell by 30% compared to the PCP.

The company explained that these results are also because of greater investment in research and development.

However, the company expects its second half results to show significant improvement because of the historical seasonality of sales in the North American market.

Ainsworth Game Technology posted a net profit of $55.7 million at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.