APE posts net revenue of US$2.55m in H1

Revenue was up 159.6 per cent year-on-year.

Macau.- The gaming technology supplier Asia Pioneer Entertainment Holdings (APE) has shared its financial results for the first half of the year. It’s reported HK$19.92m (US$2.55m) in revenue, a rise of 185.4 per cent year-on-year.

The first-half loss was down from HK$7.1m (US$914,550) in the first half of 2023 to HK$638,929 (US$81,962). Revenue from technical sales and distribution of electronic gaming equipment (EGE) was HK$13.81m (US$1.77m), up 190 per cent in year-on-year terms. The segment’s gross profit margin improved to 46.6 per cent.

Revenue from consulting and technical services was HK$4.59m (US$588,560), up 301 per cent year-on-year. Its gross profit margin rose to 62 per cent, compared to a loss of 7.3 per cent a year before.

Looking ahead to the second half of 2024, the company said: “The group’s goal is to get back to full-year profitability. We are optimistic that this target can be achieved as the macro trend for the Macau casino industry remains positive. The group is also actively marketing its EGEs to casinos in the Philippines and Malaysia and is optimistic that this will lead to increased orders in the second half of 2024.

“In the longer term, the group is looking to strategically expand our product portfolio to include supplemental products that are used by casinos in their gaming-related or marketing-related operations. We believe such products play favourably to the group’s comparative advantages. With over 19 years of gaming experience, and extensive casino and regulatory relationships, the group believes it can profitably leverage off our experience to expand our portfolio of products.”

See also: APE revenue rises 182.5% in 2023