AGTech Holdings Limited has returned to profitability.
Hong Kong.- The lottery service provider AGTech has announced a return to profitability in the initial three quarters of the year. The company reported profit of HK$20m (US$2.6m). That compares to a HK$124.6m (US$15.9m) loss in the same period last year.
This shift to profitability is primarily attributed to an increase in revenue through the consolidation of the financial statements of Macau Pass Holdings Limited and its affiliated entities into AGTech’s financial reports.
AGTech Holdings also reported a revenue boost for its electronic payment, lifestyle, games and entertainment, marketing technical services and e-commerce businesses in Macau gue to the rise in tourist arrivals. In the first half of the year, revenue amounted to HK$294.4m (US$37.6m), up 120.9 per cent over the corresponding period in 2022.