Australia's Ainsworth Game Technology slumps on bleak profit outlook

Ainsworth Game Technology

09/05/2024 04:51

** Shares of Ainsworth Game Technology  AGI.AX  fall as much
as 18% to A$0.955
    ** Stock set for its worst day since March 23, 2020, if
losses hold 
    ** Stock hits lowest level since Oct. 3, 2023
    ** Gaming machine maker sees half-year profit before tax of 
A$13 mln - A$15 mln ($8.56 mln - $9.87 mln), down from the A$18
mln reported in 1HCY24
    ** Says planned product introductions in North America are
expected to provide benefits in the low denomination outright
sales segment within 2HCY24
    ** Adds previously announced strategic review has been put
on hold to focus on organic operations
    ** About 206,365 shares change hands, compared with the
30-day average volume of 171,112
    ** Stock down 11.1% this year, as of last close


($1 = 1.5195 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))