Aristocrat leisure lifts H1 profit 40%

Gaming machine supplier Aristocrat Leisure has reported a better-than-expected 40 per cent rise in first half net profit to $34.7 million.

The result for the half year ended on June 30 beat the forecast the company gave in July of a net profit of between $30 million and $33 million.

Its net profit for the previous corresponding period was $24.9 million.

Revenue rose 27.7 per cent to $399.3 million in the half year to June 30.

Aristocrat, which is changing the dates of its financial year, said it expected its net profit for the 12 months to September 30 to be between $85 million and $90 million, about 60 per cent higher than the previous year.

It also expects strong net profit after tax growth for the calendar year to 31 December 2012.

"Sustained top line growth is flowing from the investments we've been making in the quality and competitiveness of our product portfolio," chief executive Jamie Odell said in a statement on Tuesday.

"At the same time, we have been driving efficiency, improving culture and ramping up our skills and capability in critical areas."

Aristocrat said it had sliced nearly 24 per cent off its net debt, taking it down to $223.3 million in the first half, while operating cash flows almost doubled.

It said its first half profit result was driven by ongoing top line growth across its business, despite the mixed economic conditions.

Better performing games and products also helped, it said.

Aristocrat increased its unfranked interim dividend to 4.0 cents a share, from 2.5 cents.

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