ALL delivered $543m, (37% increase), in underlying profit for FY17.
A good result was offset by a negative response to their announced acquisition of Big Fish Games. The acquisition of Big Fish is the second deal this year where Aristocrat is expanding into social gaming.
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FY18 is forecast to deliver a further 20% growth with net profit of $650m, EPS $1.05, DPS $0.42 placing the stock on a forward yield of 1.9%.
We hold ALL in our ASX 50 model portfolio, following the Algo Engine buy signal triggered in July at $20.25.
