• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Crane 1Q net profit hits US$82.4mln on strong sales

Apr 30, 2019 Newsdesk Industry Talk, Latest News, World  


Crane 1Q net profit hits US$82.4mln on strong sales

The payment and merchandising technologies business of Crane Co have driven its net profit attributable to shareholders to US$82.4 million in the first quarter of this year, up 19.9 percent from US$68.7 million a year earlier.

The United States-based supplier of technology to the gaming and other industries issued a statement on Monday saying its first-quarter sales grew to US$831.7 million, about 4 percent more than in the prior-year period.

First-quarter operating profit rose by about 21 percent to US$113.7 million according to the company’s account.

The gaming industry is among the customers of the Crane payment and merchandising technologies business. Sales in the segment grew to nearly US$304 million in the first quarter, about 4 percent more than a year earlier.

First-quarter operating profit in the payment and merchandising technologies business rose by about 18 percent year-on-year to US$43.2 million.

“We had a strong start to the year, with operating results slightly better than expected. All of our businesses are performing well, and we continue to execute on our growth initiatives, as well as productivity and repositioning activities,” the statement quotes Crane president and chief executive Max Mitchell as saying.

Crane reaffirmed its forecast that sales will reach about US$3.3 billion in 2019, about 2 percent less than the year before.

In a separate press release issued on Monday, Crane declared a regular quarterly dividend of US$0.39 per share for the second quarter of 2019. The dividend is payable on June 10 to shareholders on record at the close of business on May 31.

In January, Crane reported that its annual operating profit rose to US$441 million in 2018, 14 percent more than the year before and the most ever, on annual sales that grew by 20 percent to US$3.35 billion, also the most ever.

The Crane conglomerate has four business segments: fluid handling, payment and merchandising technologies, aerospace and electronics, and engineered materials. The organisation employs about 12,000 employees around the world.


  • tweet
Related articles
  • Tech supplier Crane ups forecast for 2021 core sales
    Tech supplier Crane ups forecast for...

    Feb 26, 2021  

  • Gaming recovery helps Melco Resorts EBITDA break even 4Q
    Gaming recovery helps Melco Resorts...

    Feb 26, 2021  

More news
  • Sci Games title ‘Hurricane Horse’ approved within Apac
    Sci Games title ‘Hurricane Horse’...

    Mar 01, 2021  

  • RGB loss slims sequentially for 4Q, annual loss US$7mln
    RGB loss slims sequentially for 4Q,...

    Mar 01, 2021  


Latest News

Sci Games title ‘Hurricane Horse’ approved within Apac

Sci Games title ‘Hurricane Horse’ approved within Apac

Mar 01, 2021  

Scientific Games Corp says it has approval within Asia-Pacific (Apac) for “Hurricane Horse” (pictured), the third Duo Fu Duo Cai-series game on the DualosX cabinet. The company said in an email...
Read More
RGB loss slims sequentially for 4Q, annual loss US$7mln

RGB loss slims sequentially for 4Q, annual loss US$7mln

Mar 01, 2021  

Macau casino GGR down 9pct m-o-m in February: govt

Macau casino GGR down 9pct m-o-m in February: govt

Mar 01, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

”While our financial results for fiscal 2020 were clearly impacted by the pandemic, they also highlighted our strengths, and the effectiveness of our business’ response"

Trevor Croker

Managing director of casino slot machine maker and digital games provider Aristocrat Leisure



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
  • Melco’s Lawrence Ho hopeful on Macau recovery in MarchMelco’s Lawrence Ho hopeful on Macau recovery in March February 26, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us