Aristocrat’s sales up, profits down

Slot machine and online gaming group Aristocrat Leisure has booked increased revenues but decreased earnings in the latest six months as the Covid-19 pandemic began to buffet the business.

The Sydney company reported EBITDA profits down seven per cent to $707 million for the half to 31 March, on revenues up seven per cent to $2.25 billion.

Operating cash flows rose 40 per cent to $620 million.

Last month Aristocrat took an axe to staff, laying off 1,000 and cutting wages as the Covid-19 pandemic hit the gaming industry.

The company expects to save $100 million in the year ended September 30.

CEO Trevor Croker said: “Our progress in driving share growth through outstanding product development and diversifying revenue streams – including across attractive digital genres and titles – are also evident in this work.

“Particularly in this uncertain period, we will continue to focus on what we can control and do all we can to protect the health and wellbeing of employees, customers and suppliers.”

The group has $1.8 billion of liquidity available on 31 March.

Picture: Aristocrat Leisure

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