Ainsworth’s profits down 53 per cent

Company News

by Anna Napoli

Poker machine company Ainsworth Game Technology (ASX:AGI) has reported its net profit after tax (NPAT) fell about 53 per cent to $9.7 million for the half year to December 2017.

Total revenue for the half year was also down, falling 2 per cent on the same time last year to $120 million.

Its earnings before interest and tax (EBITDA) decreased by 23 per, to $25 million dollars.

The company declared a fully franked dividend of 1.5 cents per share to be paid on the 8th of May 2018.

Ainsworth says the fall in net profit is due to a $8.6 million dollar adjustment in the prior period attributable the reversal of previously recognized deferred taxes.

Shares in Ainsworth Gaming Technology (ASX:AGI) closed about 1.39 per cent higher yesterday to $2.19.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.