Australian games manufacturer Aristocrat Leisure saw profits increase significantly in 2011.

Aristocrat at ICE Aristocrat at ICE

The group achieved normalised net profit of AUS$66.1m for the year, representing growth of over 21 per cent compared to the corresponding period.

This, the company said, was ahead of the previous guidance of growth between 10 per cent and 20 per cent for the full year. Managing director and CEO Jamie Odell confirmed guidance assumed US/Australian dollar parity for 2011. Assuming parity, the group NPAT result would have been over 27 per cent higher than the previous year.

Odell said this represented a strong operational result.

“Aristocrat’s product offering was revitalised to suit each key market, targeting the most profitable segments, and this drove share gains in major markets like the US and Australia,” he said. “Even more importantly, this is a high quality result that is anchored in stronger operational performance and effective execution.”

In 2012 Aristocrat said it expects continued volatility globally due to mixed economic conditions and currency headwinds. Competitive trading conditions are also expected to continue.

Odell said at this early stage in the year and based on current market conditions, the group expects strong growth in full-year net profit after tax in 2012, with operational performance well ahead of the prior year.

Significant new game releases in all major markets, progress in targeting profitable segments and continued cost discipline will drive a further lift in operational performance in 2012, it added.