By Clyde Mooney
Australian gaming icon, Ainsworth Game Technology (AGT) has revised its profit forecasts for the second half of 2011 to 22 per cent greater than the whole of the previous year.
At the company’s AGM, CEO Danny Gladstone announced that forecasts for the first two quarters of this financial year would amount to a similar amount to the previous four quarters combined.
Yesterday the ASX-listed AGT announced a revision of this forecast, from $14.8 million to $18 million, after it "experienced continued strong product sales through November 2011, and expects to release further increases in shipments for its products in the period leading up to 31 December 2011".
"The ongoing improvement in AGT’s performance is a direct result of the continued reinvestment in research and development, an extensive range of A560 platform hardware alternatives, and a range of innovative game combinations," the company said.
The recently released ‘World of Jackpots’ in Queensland, and an extension of the Double Shot game library in NSW and Queensland were both cited as catalysts to the improved financial results.
AGT declined to comment to TheShout, preferring “to keep quiet and let the numbers speak for themselves”.
The company is expected to release its 2011 results in February next year.