Ainsworth Game Technology posted a 37% increase in pre-tax profit for the 2013 financial year to A$69.3 million on robust revenue growth in Australia and South America and a continuing ramp-up of the company’s North America business.
The ASX-listed slot maker (AGI) generated $198.1 million in total revenues, a 32% jump over 2012, driven by 21% growth in its domestic markets to $124.4 million. Revenues out of Victoria more than tripled. The company’s share of the New South Wales club market rose from 13% last year to 17%. Orders and deliveries in Queensland also were up.
Corporate-wide, an increase in tax drove down the bottom line by 19% to $52.2 million (16 cents per share). But it was a solid year in terms of performance.
International revenues rose 55% to $73.7 million, boosted by strong results in South America, where turnover from sales and leases rose 77% and contributed to a 56% increase in the company’s installed base of machines in the Western Hemisphere to 1,156, with another 512 in trial. In all, sales outside Australia accounted for 37% of the top line in 2013.
With an eye on growth in North America, Ainsworth announced that it has purchased 24 acres in Las Vegas to expand its manufacturing, distribution and service capabilities. “The land will allow the company to establish a purpose-built facility considerably greater in size than the currently occupied premises,” said CEO Danny Gladstone.
The company is forecasting at least 15% growth for the first half of fiscal 2014, which commenced 1st of July.
For 2013, a final dividend of 5 cents per share—8 cents for the year—will be payable on 27th September, the company said.
