Aristocrat Leisure Growth Compensates for Japanese Loss
As reported by the Australian Financial Review: "Poker machine maker Aristocrat Leisure expects its first-half result to be broadly in line with the previous corresponding period, despite difficult trading conditions in Japan. "Aristocrat said strong growth in its non-Japanese business was expected to compensate for an approximate $30 million fall in pre-tax profit from its Japanese business in the first half. "The shortfall, reflecting the transitioning to new industry regulations which had caused short term uncertainties in the market, affected all competitors, Aristocrat said on Tuesday.
".Aristocrat chief executive and managing director Paul Oneile said that while the current situation in the Japanese market was disappointing, the remainder of the business was likely to post 20 to 25 per cent growth in segment profit in the first half which compensated for the Japanese profit shortfall."