Casino equipment supplier and distributor RGB International Bhd returned to profit in the second quarter after a year-over-year loss.
The Malaysian company’s second-quarter profit was just 26.5 million yuan (US$5.7 million), compared to a loss of nearly 2.7 million yuan in the second quarter of 2022.
Q1 profit in the year to June 30 was slightly above 10.5 million yuan before achieving first-half profit of 37 million yuan.
The company also announced to Bursa Malaysia a special dividend due on October 18 at the same time as its quarterly results on Thursday. The single dividend amounted to MYR0.006 per share of common stock.
“Based on our promising market outlook, the Group expects to deliver strong results for the fiscal year ending December 31, 2023, driven by solid orders secured to date despite inflationary pressures on operating costs,” RGB said in a commentary
Second-quarter earnings rose 563.0% year-over-year to 333.7 million MYR. The group’s overall revenue cost in the second quarter rose 570.4% year-over-year to 291.7 million MYR.
The majority of the group’s second-quarter revenue, MYR $303.8 million, came from product sales and marketing, up 975.8% year-over-year.
Revenue and marketing revenue were also up quarter-over-quarter “due to an increase in the number of products sold and changes in product mix compared to the previous quarter,” the company said.
Second-quarter revenue for its technical support and management division rose 35.8% year-over-year to 29.1 million yuan. The improvement was “mainly due to improved performance and increased sales at most of the stores the company operates in.”
Engineering services revenue rose 27.1% to MYR 694 million.
Earnings before interest, taxation, depreciation and amortization (EBITDA) for the three months to June 30 were slightly below 41.4 million yuan, up 287.6% year over year. Quarterly results showed EBITDA in the first half of 2023 up 219.0% year over year to 65.4 million yuan.
BY: 슬롯사이트