Ainsworth warns FY19H2 results below initial forecast

Australian gaming machine manufacturer Ainsworth Game Technology Ltd said it expects lower than expected results in 19H1, due to intense competitive market pressures and delays encountered in new product approvals.

According to the company’s trading update to the Australian Stock Exchange, on a pre-currency basis, profit before tax is now expected to be around $4 million for the six months ended June 30, 2019.

On the topic of product approvals, Ainworth said the approvals are now being progressively secured and is expected to translate into improved product performance and domestic market share gains in FY20.

However, continued progress within the Americas business has partially offset lower domestic result, with Latin America and North America expecting a slight increase in their segment results compared to the previous year period.