RGB International posts revenue of US$22.9m for Q4

RGB International posts revenue of US$22.9m for Q4

Revenue was down 9.4 per cent from the previous year.

Malaysia.- RGB International has shared its financial results for the fourth quarter of 2023. Revenue was MYR108.6m (US$22.9m), down 9.4 per cent year-on-year to and down 36.3 per cent when compared to the previous quarter.

The company reported a loss attributable to shareholders of MYR26.8m. This contrasts with a profit of MYR9.4m in the same period a year earlier and a profit of MYR26.2m in the preceding quarter. The company recorded negative earnings before interest, taxation, depreciation, and amortization (EBITDA) of MYR13.8m.

According to RGB International, this result were due to delays in shipments during the fourth quarter. Administrative expenses rose by 298.2 per cent year-on-year, reaching MYR47.6m, while sequential expenses rose by 275.9 per cent.

Despite the challenging quarter, the company announced a second interim dividend of MYR0.008 per share to be paid on April 18. This follows a special dividend of MYR0.006 per share in October and a first interim dividend of the same amount in January.

RGB’s profit to shareholders increased by 682.8 per cent year-on-year to MYR36.5bn for full-year 2023. Aggregate revenue was MYR707.8m, up 159.7 per cent from 2022.

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