Australian slot machine supplier Ainsworth Game Technology has announced plans to change the company’s financial year end from 30 June to 31 December in order to align with its overseas operations and business cycles.
The change will also align the company’s financial year with the financial year end of majority shareholder Novomatic AG, Ainsworth said via an ASX filing, helping reduce the duplication of processes and increase efficiencies of the company’s financial reporting.
The current 30 June financial year end aligns with the Australian financial year.
With the 2022 financial year coming to an end on 30 June 2022, Ainsworth said it will have a six-month transitional financial year beginning on 1 July 2022 and ending on 31 December 2022. From 1 January 2023, the company will then be on a 12-month financial year ending on 31 December.
The change in the financial year will require Ainsworth to lodge an annual financial report by 31 March 2023 and hold an Annual General Meeting (AGM) at a date yet to be determined.
The change comes after Ainsworth recently announced a profit after tax of AU$9.1 million (US$6.6 million) in the six months to 31 December 2021, reversing an AU$50.1 million (US$36.2 million) loss recorded 12 months earlier.
RelatedPosts
