RGB International posts revenue of US$22.66m for Q2

Revenue was down 70.2 per cent year-on-year.

Malaysia.- RGB International (RGBI) has shared its financial results for the first quarter of the year. Revenue was MYR99.6m (US$22.66m), down 52.6 per cent sequentially and down 70.2 per cent year-on-year.

The company reported a profit attributable to shareholders of MYR18.9m (US$4.3m), down 28.8 per cent compared to last year. The company’s earnings before interest, taxation, depreciation, and amortisation (EBITDA) declined by 24.7 per cent year-on-year to MYR31.2m (US$7.10m).

Some MYR67.9m (US$15.45m) came from sales and marketing of products, down 77.7 per cent from the same period last year. The sales and marketing segment’s performance in the three months was down year-on-year due to a bulk sale recorded in last year’s corresponding quarter.

Revenue from the technical support and management segment for the period increased by 2.5 per cent year-on-year to MYR29.8m (US$6.78m). Revenue from engineering services remained unchanged at MYR695,000 (US$158,000).

RGBI said the group’s prospects “remain robust, bolstered by the promising market conditions, especially in the Philippines.”

The company has recently reported that its Macau wholly-owned subsidiary has entered into a business agreement with FIRM 614. It will assist FIRM 614 in importing, selling, and distributing gaming equipment and commercial gaming software to gaming operators licensed by the Commercial Gambling Management Commission of Cambodia (CGMC).

Earlier this month, RGBI announced that its wholly-owned subsidiary RGBL finalised an agreement to lease 432 electronic gaming machines (EGMs) and related accessories to 18 casinos in the Philippines. The agreement is an amendment to an original agreement established in 2019.