BEST OF THE BROKERS

first_img Share KCS-content BEST OF THE BROKERS whatsapp Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap BARRATT DEVELOPMENTSPanmure Gordon rates the housebuilder “buy” at a 147p target price as it believes the stock is the lowest-valued in the sector. It says Barratt has improved its operating performance, reduced costs and improved the quality of its offering since 2007, and the broker expects Barratt’s share price to rise to reflect this in 2011.HEINEKENEvolution Securities has moved the brewer to “sell” with a €32.50 (£27.00) target price after a weak performance in 2010 and concern its share price, currently at a 13 per cent discount to peers, will lag again in 2011. It generates 40 per cent of profits in mature markets where sales are expected to fall this year, while input costs rise.TOPPS TILESAltium Securities rates Topps “buy” with a 100p target price after a decent first-quarter performance in difficult trading conditions. The broker believes Topps has scope for further UK growth and less gearing than competitors. It has set a target of opening another 90 stores and will be boosted by a housing recovery, says Altium. whatsapp Show Comments ▼ Tuesday 11 January 2011 7:15 pm Tags: NULLlast_img read more

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Ainsworth profit nosedives amid domestic struggles

first_img Australian gaming machines and content provider Ainsworth Game Technology (AGT) has posted a 66% slump in post-tax profit to Aus$10.9m (£5.98m/€6.59m/$7.31m) on the back of a 12% fall in turnover to Aus$234.3m for the 12 months through to the end of June. 28th August 2019 | By contenteditor Ainsworth profit nosedives amid domestic struggles Casino & games Regions: Oceania Australia Subscribe to the iGaming newslettercenter_img Australian gaming machines and content provider Ainsworth Game Technology (AGT) has posted a 66% slump in post-tax profit to AUD$10.9m (£5.98m/€6.59m/$7.31m) on the back of a 12% fall in turnover to $234.3m for the 12 months to 30 June, 2019.With the company’s online division contributing $4.2m of sales, group earnings before interest and deductions was $44.8m, a 34% year-on-year decrease, with challenging conditions in Australia and Latin America blamed for the overall decline.Three months after issuing a profit warning, Ainsworth again singled out its domestic market as a particular struggle, with sales in Australia down 43%.However, the company highlighted a stronger balance sheet at the end of the financial year, with net cash of $6.2m versus a net debt of $36.2m 12 months earlier, supporting “an increase in R&D investments to drive organic growth, complemented with selective acquisitions”.AGT also underlined encouraging progress in North America, where revenue increased by 8%, helping to lift international sales to 85% of the company’s turnover.Ainsworth added that 20 games have been approved in New Jersey with GVC for the PlayMGM online platform, while a total of 62 games were developed and approved for online distribution throughout the US, Europe and Latin America over the 12-month period.In February, the company announced the launch of Mustang Money, its first real-money online casino game, in Mexico. AGT said that the game is performing to expectations in terms of growing the company’s player database and revenues.Lawrence Levy, who was appointed as the company’s new chief executive on 1 July, said that the company is in the process of reviewing its research and development investments.“I am confident AGT can drive improved long-term growth by leveraging its excellent reputation, focusing R&D and complementing organic performance with selective acquisitions,” he said.“My initial observations as the new CEO are that we have a strong footprint in major markets, scale and growing recurring revenues. With an increased focus on investing in game technology and new product development, I expect our domestic performance to progressively improve and our international success to continue.“While the FY19 results are relatively weak, AGT is capable of delivering improved performance. We have a professional and motivated workforce, an excellent industry reputation and a well-established footprint across all our markets.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Email Addresslast_img read more

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