RGB International projects strong growth in 2023.
Malaysia.- RGB International has reported a net profit of over MYR10.5m (US$2.3m) for the first quarter of the year, compared to a loss of MYR3.3m during the same period last year. The figure also represents an improvement from the previous quarter’s net profit of just over MYR9.3m. The company reported that revenue nearly tripled year-on-year to MYR95.2m.
RGB International attributed its financial performance to growth in revenue from the sales and marketing of gaming equipment, which rose 367.5 per cent increase to MYR69m. The company’s earnings before interest, taxation, depreciation, and amortization (EBITDA) rose by 144.4 per cent year-on-year to MYR24.0m.
Revenues from technical support and management rose by 52.3 per cent to MYR25.6m, while engineering services revenue rose 485.7 per cent to just below MYR533,000.
RGB predicted a favourable market outlook for the remainder of 2023, driven by the gradual rebound in international travel following the impact of the Covid-19 pandemic. A week ago, it was reported RGB International secured a deal International Entertainment Corp to supply 382 slot machines worth over US$5.7m for deployment at New Coast Hotel Manila in the Philippines.