AGTech revenues up 77.6% in H1

AGTech Holdings has posted a 77.6 per cent growth in revenue for the first half of 2021 to approximately HK$77.9m.

Hong Kong.- The lottery service provider AGTech has reported revenue for the first half of the current year reached HK$77.9m while its operating loss for the six-month period was approximately HK$55m, down 47.9 per cent year-on-year.

The company said the reduced loss was mainly due to the increase in total revenue and a decrease in employee benefits expenses of approximately HK$15.8m.

The company also noted growth due to lottery hardware, provision of lottery distribution and ancillary services, non-lottery hardware in PRC, and its games and entertainment business in India.

PRC lottery sales reached RMB178.4bn in the first half, up 44 per cent year-on-year, with RMB67.7bn from the Welfare Lottery, and RMB110.7bn from the Sports Lottery. 

For the first half of 2020, AGTech reported an 8 per cent drop in revenue to US$5.6m. At the time, the company said the drop was mainly due to a fall in sales of lottery hardware of approximately HK$6.6m (US$851,596), and a fall of HK$1m (US$129,028) in revenue from its games and entertainment division.