Gaming company Aristocrat Leisure expects its key North American market to perform strongly after coming up trumps with a full-year profit of $186.4 million.
Aristocrat swung back into the black in fiscal 2015 thanks to the strong performance of its North American Video Gaming Technologies acquisition in October 2014.
Managing director Jamie Odell said Aristocrat's profit more than doubled in North America, the company's largest market.
"Looking ahead we expect our Americas business to continue to perform strongly," Mr Odell told analysts on Wednesday.
Aristocrat is now hunting for more acquisitions following the strong profit result for the year to September 30, which compared to a $16.4 million loss in 2013/14.
Revenue surged 89 per cent to $1.6 billion, driven by income from its Video Gaming Technologies acquisition.
Mr Odell said Aristocrat had extended its trajectory of consistent profit growth after being weighed down by a writedown in the value of its Japanese business and disposal of its non-core lotteries interests in 2014.
"The growth in the group's recurring revenue base and strong cash flows provide the business with the capacity to consider additional organic and inorganic investments over the coming period," he said.
He added that the percentage of revenue derived from recurring sources had grown to more than 45 per cent in 2015, up from less than a quarter the previous year.
But while the company is on the look out for more acquisitions, it is cautious about expanding into Latin America which tends to have longer transaction terms.
"We do see growth, but we're always cautious about Latin America," Mr Odell said.
"It's not somewhere we're pushing for expediential growth."
Aristocrat shares closed one cent lower at $9.53.
ARISTOCRAT BACK IN THE BLACK
* Full-year profit of $186.4m, compared to $16.4m loss the previous year
* Revenue of $1.6 billion, up 89 per cent from $839m
* Final dividend of 9.0 cents unfranked, up 1.0 cent
Share
