Bright outlook for Aristocrat

Aug 21, 2001 6:52 PM

Des Randall, chairman and CEO of Aristocrat Leisure Ltd. (ARLUF), was extremely confident last week when he told analysts that he expected a “very, very strong” finish to the calendar year.

He made the announcement while reporting that the company had recorded a net profit of $31.6 million (Australian) for the first six months of the year. The profit was an increase of 16.2% over last year.

Randall said financial analysts had estimated that Aristocrat would have a full year net profit of “around $85 million, or a 30% increase over last year’s $65 million.

“We are not uncomfortable with that forecast. We have given a pretty clear indication that the second half is going to be very, very strong,” he said.

Providing the impetus toward improved performance, Randall said, was the contributions to be made by both the United States and Japan.

“We have a strategy,” Randall said, “to very quickly now grow our Japanese business and grow our United States business.”