RGB International revenue falls in Q1
The company has posted revenue of MYR73.6m (US$17.3m).
Malaysia.- RGB International (RGBI) has shared its financial results for the first quarter of the year. Revenue was MYR73.6m (US$17.3m), a decrease of 65 per cent in year-on-year terms and 80.20 per cent sequentially. The company attributed the decline to a lower number of products being sold. Some MYR50.5m (US$11.9m) came from sales and marketing of products, down 71.1 per cent in year-on-year terms. Profit in this segment fell by 69.7 per cent to MYR6.9m (US$1.63m).
Technical Support and Management was down 32 per cent year-on-year and 1 per cent sequentially to MYR22.6m (US$5.3m) amid lower performance in some gaming outlets, but profit from the segment was up 38 per cent year-on-year to MYR7.2m (US$1.7m) due to lower depreciation costs for machines. Engineering services revenue was down 38.3 per cent year-on-year to MYR363,000 (US$85,547.32).
The company reported a profit attributable to owners of MYR12.4m (US$2.92m), a decrease of 44.2 per cent in year-on-year terms and 61 per cent sequentially. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) was MYR14.9m (US$3.51m), down 57.8 per cent year-on-year. RGB has declared a first interim dividend of MYR0.004 per share to be paid on July 18.
The company said its prospects “remain robust, bolstered by the promising market conditions, especially in key areas including the Philippines and Cambodia.”
“As a pivotal slot machine distributor and a major player in the machine concession business in the region, the group is well positioned to capitalise on this industry growth. The group remains vigilant for emerging opportunities including the prospect of new and upcoming markets. Barring unforeseen circumstances, the group expects to achieve a satisfactory performance in 2025,” the company stated.
