Tech distributor Asia Pioneer trims interim loss by 27pct

Aug 14, 2023 Newsdesk Industry Talk, Latest News  

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The interim loss attributable to the owners at Asia Pioneer Entertainment Holdings Ltd narrowed by 26.9 percent year-on-year, to HKD7.13 million (US$912,179), from HKD9.76 million, the firm said in a Friday filing to the Hong Kong Stock Exchange.

The company stated the improvement was “mainly due to the increase in revenue” during the latest reporting period to June 30.

The group’s second-quarter 2023 loss was just under HKD3.36 million.

No dividend was paid or proposed for the current interim period.

The business, via its Asia Pioneer Entertainment arm, is authorised in Macau to distribute electronic gaming equipment to the city’s six casino licensees, and also provides such technology to land-based casinos in other parts of the Asia-Pacific region. The group additionally gives technical support and consultancy on gaming equipment.

During the six months to June 30, Asia Pioneer’s group revenue was HKD7.67 million, compared to just under HKD2.69 million a year earlier. Most of the interim 2023 revenue came in the second quarter, i.e., HKD5.91 million.

First-half revenue from technical sales, distribution of electronic gaming equipment, and spare parts, was HKD4.77 million, up 679.5 percent year-on-year on first-half 2022’s HKD612,056.

The group’s operating expenses decreased by 13.2 percent year-on-year during the latest reporting period, to HKD7.21 million.

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