Aristocrat shares slide despite full-year profit jump
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More news: Aristocrat shares tumbled on the ASX, even after the gambling company reported a 12% rise in full-year net profit and 11% lift in revenue.
Shares were down 5.6% to $60.66 at 1:30pm AEDT, taking losses to 11.3% for the calendar year.
Aristocrat posts 12% jump in full-year profit, flags 'significant' market share gains
The news: Poker machine group Aristocrat has reported full-year net profit of $1.6 billion, up 12% year on year, as its core gaming segment continued to make market share gains.
The numbers: Aristocrat posted full-year revenue of $6.3 billion, up 11% on FY24. EBITDA grew 15.6% to $2.6 billion.
The context: Aristocrat said profit growth was boosted by the inclusion of recently acquired gaming developer NeoGames for the full 12-month period, partially offset by increased corporate costs including higher legal expenses. Aristocrat is part of an ongoing legal battle in the US with ASX rival Light & Wonder over a trade secret misappropriation claim.
The company said its gaming division saw "significant" market share gains in North America and ANZ. Its gaming operations installed base increased its share to 43%.
What they said: "Looking ahead, we continue to see strong momentum in our business as we align our portfolio to capture the significant strategic opportunities in front of us," said Aristocrat's CEO and managing director Trevor Croker.
The source: ASX
