Aristocrat’s strong growth puts Covid in the past

Gaming and pokies manufacturer Aristocrat Leisure has drawn a line under years of Covid-119 disruption to the gaming industry, reporting a 21 percent rise in net profit after tax to $1.3 billion for the 12 months ended 30 September 2023.

Revenue was up 13 percent to $6.3 billion with the Sydney company booking EBITDA profit up 14 percent to a record $2.105 billion.

Margins rose from 33.25 percent to 33.4 percent compared to the previous corresponding period.

This was despite continuing high levels of investment in the company’s priority areas of gaming design and development, capital expenditure and customer acquisition.

CEO Trevor Croker attributed the result to the resilience, competitiveness, and diversification of the company’s portfolio centred on online gaming.

Croker said: “Aristocrat delivered an impressive and resilient performance despite mixed operational conditions and challenges.

“We took comprehensive action to protect our people and business, while investing strongly to accelerate our growth strategy going forward.

“Our sustained investment in talent, technology and product enables us to continue to take share wherever we play and delivered significant top and bottom-line growth in the first half of fiscal 2022.”

In the coming year Aristocrat plans to complete the acquisition of gaming platform NeoGames.

Picture: Pixel United