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AUSTRALIA'S ARISTOCRAT EXPECTING UP TO 20 PCT JUMP IN NET PROFIT.
SYDNEY, May 1 Asia Pulse - Gaming group Aristocrat Leisure Ltd (ASX:ALL) says it expects first half earnings to be up to 20 per cent higher than for the same period last year.
The company said it expects a net profit for the six months to June 30 of between $A120 million ($US99.46 million) to $A125 million ($US103.61 million).
That would be up from $104.7 million in the prior corresponding period, an increase of 15 to 20 per cent.
At like-for-like exchange rates, in local currency terms, the underlying profit increase would be around 30 per cent.
"The expected improvement in the first half is driven by strong sales in developing markets and a turnaround in results in Japan, offset by increased investment in research and development and the adverse impact of the Australian dollar," Aristocrat said.
Aristocrat said trading in Australia is expected to be soft as venues divert capital expenditure into their facilities ahead of the introduction of non-smoking regulations.
The North American business is expected to be broadly flat, in local currency terms.
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