News: Aristocrat Leisure reports H1 profit drop

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Aristocrat Leisure Ltd (ASX:ALL) has reported a 17 per cent drop in its half year net profit to $36.6 million, compared to $44 million reported the for the same time last year.

The gaming company says a stronger Aussie dollar affected the result, however on a constant currency basis the result was slightly higher than last year at $44.3 million.

Aristocrat posted varied operational performance across key markets, noting that North America produced a solid and encouraging performance, while Japan and Australia delivered poor results.

The group says it continues to be highly cautious about capital expenditure and will take a prudent approach to balance sheet management.

Last year Aristocrat reduced net debt to $49 million from over $75 million.

An interim unfranked dividend of 3.5 cents per share has been declared.

Aristocrat Leisure reported a loss of $158 million for the year to 30 December 2009.