Ainsworth's financial outlook for H2CY24

Ainsworth Game Technology (ASX:AGI) has released a business update for the six months ending December 31, 2024. The company is forecasting a profit before tax, excluding currency and one-off items, between $8 million and $10 million for the second half of the financial year. This forecast is based on preliminary management estimates and remains subject to final closure and audit procedures.

Overview and future prospects for Ainsworth Game Technology

Ainsworth Game Technology reported a 12% increase in revenue compared to the first half of 2024, with growth across most regions except for the digital segment. Despite this revenue growth, gross margins are expected to decrease due to factors like product mix in LATAM and competitive conditions. The company has implemented cost control measures to maintain stable overheads. A cybersecurity incident is under investigation, but it is not expected to significantly impact financial results. Looking ahead, Ainsworth aims to drive further growth through new game releases and hardware improvements, maintaining an optimistic outlook for continued performance enhancements.

CEO insights on Ainsworth's progress

CEO Harald Neumann expressed optimism for continued revenue growth with future game and hardware releases.