Aristocrat (ASX: ALL) posts soft result, shares weaker
Stock
Aristocrat Leisure (ASX: ALL) $24.69 as at 29/11/2018
Event
Gaming company Aristocrat (ASX: ALL) is trading lower today following a less than impressive full year result announced this morning.
Full year profit growth of 34% to $730m was below the markets expectations of $757.8m with the miss attributed to rising costs. The uplift in profits was also supported by acquisitions of Big Fish & Plarium for a total close to $2b.
Design & development was the biggest driver of increased costs, jumping over 50% to be 11.4% of total revenue.
The poker machine maker doesn’t plan to stop its spending there, with the company flagging further investment to acquire more users.
Aristocrat Leisure (ASX: ALL) Chart
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