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Aristocrat Results Up

AUSTRALIA – As reported by the Australian: "Cashed-up slot machine maker Aristocrat Leisure has formed a crack business development team to explore acquisition opportunities, as it enjoys the best balance sheet in its 10-year public history.

"Aristocrat chief executive Paul Oneile, who introduced the idea in the first half of last year, has beefed up the 11-man unit, which reports to senior executives on a weekly basis.

"Coming off a bumper year in the gaming business, which saw Aristocrat pull off a $281 million turnaround in profits and grow its North American market share, Mr Oneile said it expected a first-half profit this year of between $90-$100 million.

"Aristocrat recorded a $63 million figure for the corresponding period in 2004.

"…Aristocrat shareholders were told the first-half profit figure was dependent on strong growth in the North American and Japanese markets. The timing of product approvals was also vital.

"…Aristocrat closed up 2c to $9.87 in weak market conditions."

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