Aristocrat revenue rises 74%

ider Aristocrat Leisure has reported a 74% year-on-year revenue increase to A$685m for the six-month period ending 31 March.

EBITDA went up 121% to A$243.4m, and operating cash flow ascended 66% to A$101.4m.

Closing net debt increased to A$1.48bn, up from A$233.7m, while statutory profit after tax rose 35% to A$77.6m.

Aristocrat in part attributed the results to “the addition of the VGT business”, following the completion of its $1.3bn acquisition of manufacturer Video Gaming Technologies in October, as well as “profit growth in the Australian outright sale market” and “a strong performance in digital gaming”.

Jamie Odell, Aristocrat CEO and managing director, said in a press release: “The six months to 31 March 2015 have been genuinely transformative for Aristocrat. We have taken major steps forward in our product-led, share-taking strategy, asserted our focus on driving scale and profitability in critical recurring revenue segments and cleaned up remaining legacy distractions and non-core operations.

“Clearly, the acquisition and successful integration of VGT has been a significant factor in our performance half-on-half, but our results also reflect accelerating operational momentum across key markets and segments. Year-on-year, we have more than doubled the percentage of total group revenues deriving from recurring sources to 47%, and growth across all our key recurring revenue segments is a particularly important and positive feature of this result.”