Australia – Ainsworth expects loss of AU$15m for six months to year endBy Phil - 27 November 2020
Ainsworth Game Technology expects to make a loss of AU$15m for its half year to December 31 2020 due to the pandemic, following a net loss of AU$43m for the year ended June 30 2020.
Lawrence Levy, Chief Executive Officer, said it would be a year of two halves.
He explained: “Half 1 will be about safety and security through the reopening phase; Half 2 will be about recuperation and development as we enter the ‘new normal’ phase. As a result, for 1H21 we expect to report a loss before tax for the group, excluding the impacts of foreign exchange and on-off items, of approximately AU$15 million which is in line with the company’s expectations given the effect of the September quarter.”
Ainsworth axed 107 of its workforce in August, generating a saving of AU$10m through 67 redundancies and 40 eliminated roles.