Aristocrat Leisure

There’s already been evidence that Jamie Odell’s turnaround plan for Aristocrat Leisure has been working—see Aristocrat’s turnaround jackpot? from 28 Sep 11 (Speculative Buy – $1.98). But the company’s results for the year to 31 December 2011 provided the first tangible financial evidence that it is well underway. Revenue finally rose, albeit by only 4%, to $709m (the higher Australian dollar crimped growth). Earnings before interest and tax, the best measure of operational performance, jumped 31% to $111m (or 41% in constant currency terms). Net profit came in at the top of management’s guidance, rising 20% to $66m. From...

There’s already been evidence that Jamie Odell’s turnaround plan for Aristocrat Leisure has been working—see Aristocrat’s turnaround jackpot? from 28 Sep 11 (Speculative Buy – $1.98). But the company’s results for the year to 31 December 2011 provided the first tangible financial evidence that it is well underway.

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