GGRAsia – Casino tech firm RGB posts higher 1H revenue, profit

Casino tech firm RGB posts higher 1H revenue, profit

Aug 31, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

Casino equipment maker RGB International Bhd reported higher year-on-year revenue and profit for the six months ended June 30, according to its unaudited results filed to Bursa Malaysia.

Profit attributable to owners of the company was MYR15.0 million (US$3.63 million) for the first six months of this year, 1 percent higher than MYR14.8 million achieved in the prior-year period, the firm stated in a Wednesday filing.

RGB International’s revenue for the period grew by 120 percent year-on-year to nearly MYR214.2 million.

Revenue for product sales and marketing – the firm’s main segment – rose by 194 percent from the prior-year period to MYR153.54 million in the reporting period. Profit before tax for that division rose by 2 percent year-on-year to MYR9.96 million in the first half of 2018, which the company said was “due to an increase in the number of product sold and variation in product mix”.

Earnings before interest, taxation, depreciation and amortisation stood at MYR29.2 million in the six months to June 30, down 9.7 percent from the prior-year period.

RGB International stated that it expected to “achieve a better performance” in 2018.

“The group continues…to increase the number of concession machines through the existing and new concessions, [as well as] to carry out further improvement in the performance of concession machines in the technical support and management division,” the casino equipment maker said in Wednesday’s filing. The company added that it would “promote the provision of engineering expertise” across Asia and explore new markets elsewhere.

RGB International announced on Friday the issuance of up to 194,620,529 bonus shares on the basis of one bonus share for every seven existing shares held by entitled stockholders. The bonus shares will be listed on Bursa Malaysia on September 21.