Ainsworth reports double digit fall

ainsworth

The Australian company reported a double digit loss of 40 percent to US$11.6 million.

The Australian company released its net profits for the six months ended on December.

Australia.- Aisnworth Game Technology Ltd announced its net profit earnings for the xis months that ended on the last day of December 2016. The Australian company reported a double digit loss of 40 percent to US$11.6 million.

During the first part of fiscal year 2016, Ainsworth registered US$20.1 million. Danny Gladstone, chief executive of Ainsworth, told the Australian Stock Exchange during a filling that even though these results are in line with their announcement made last October, the reduction in profit is still disappointing for them. The official believes that the results were influenced by competitive domestic markets and temporary delays in North American approvals.

Furthermore, international revenues also experienced a 11 percent year-on-year fall to US$62.6 million because the company went through a delay in the approval of a new game software and hardware. “The company implemented strategies to deliver an improved financial performance going forward,” said Gladstone, who’s also confident that the second half of fiscal year 2017 will be better because they will count on North American businesses and new product releases.