Sep 02, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck  
Second-quarter profit at Malaysian casino equipment maker and distributor RGB International Bhd fell 17.1 percent year-on-year on revenue that dropped by 66.8 percent, the firm said in a Friday filing to Bursa Malaysia.
Such profit was just under MYR7.2 million (US$1.7 million), compared to MYR8.6 million a year earlier.
Group revenue for the three months to June 30 was MYR55.2 million, compared to MYR166.4 million in the prior-year quarter.
Measured by segment, sales and marketing revenue dropped 83.3 percent year-on-year, to MYR23.2 million, from MYR138.4 million. Revenue from technical support and management rose 14.2 percent to MYR31.4 million, from MYR27.5 million. A company executive had told GGRAsia in a recent interview that the latter segment was a growth area for its business.
Management said in commentary on the latest earnings, that a quarterly decline in revenue and profit before tax for the sales and marketing division was “mainly due to the late delivery of certain bulk orders to various countries and also partly caused by a bulk sale to an integrated resort in Indochina in the previous year’s corresponding quarter”.
But the firm added the outstanding bulk orders were “expected to be recognised by end of 2019” on its balance sheet.
Group quarterly earnings before interest, taxation, depreciation and amortisation (EBITDA) were down slightly, by 2.4 percent at MYR15.3 million, from MYR15.7 million.
Basic and diluted earnings per share for the second quarter were MYR0.46 in each case, a decline of 18 percent year-on-year.
In the first quarter RGB International had reported profit up 6 percent, on higher sales.
Feb 28, 2023
Jan 19, 2023
Mar 28, 2023
Mar 28, 2023
Mar 28, 2023
Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
(Click here for more)
”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”
Sherwin Gatchalian
Chairman of the Committee on Ways and Means of the Senate of the Philippines