egolinews.com

Aristocrat Leisure Limited (ALL) shares surged over 10% at the open after saying it was expecting to record a post-tax profit of around $116 million for the year to 31 December, ahead of analysts’ expectations. Despite this the company said it would report a loss, after abnormal items, after tax and minority interest for the year.

The loss was on the back of an abnormal provision of $187.3 million, after tax in its 2009 financial accounts relating to the expected damages liability associated with the US Convertible Bonds.

Over the 2008 year, Aristocrat posted a profit of around $101 million.

At 1012 AEDT, Aristocrat shares rose 45c to $4.42.

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