Ainsworth Game Technology Limited (ASX: AGI) anticipates reporting investments of around AU$13 million within Argentina in its financial statement for the six months ending on June 30, 2023 (H1CY23). These investments were aimed at mitigating the devaluation of the Argentine Pesos against the US Dollar due to heightened restrictions on fund transfers within the country.
Escalating macroeconomic uncertainties have led to the devaluation of these investments, raising concerns about recoverability, including a recent reorganization petition that could affect retrieval. The company is taking steps to safeguard its investments and will provide updates in case of significant adverse changes. Additionally, the firm forecasts a Profit before Tax of approximately AU$23 million for H1CY23, excluding currency impacts and special items, with the financial report set to be released on August 29, 2023, after market closure. This projection is contingent on audit review finalization.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
