Malaysian-based gaming equipment supplier RGB International Bhd has credited a rebound in product sales and better operational efficiency for almost breaking even in 4Q21, despite the COVID-19 pandemic continuing to impact operations.
The company reported a loss attributable to owners of the company of MYR166,000 (US$39,500) for the three months to 31 December 2021, narrowed from the MYR6.69 million (US$1.6 million) loss recorded in the final quarter of 2020. That’s despite revenue falling 4% year-on-year to MYR56.6 million (US$13.5 million).
For FY21, a loss of MYR9.95 million (US$2.4 million) was also narrowed from a 2020 loss of MYR29.08 million (US$6.9 million), with revenue up 13% to MYR216.3 million (US$51.5 million).
RGB noted that revenue in the Sales and Marketing division was 3% higher year-on-year in 4Q at MYR38.3 million (US$9.1 million), while division profit grew 40% to MYR5.6 million (US$1.3 million) “mainly due to an increase in the number of products sold and variation in product mix.”
Revenue in the Technical Support and Management division fell by 19% to MYR17.8 million (US$4.2 million) due to intermittent lockdowns of casinos across the region during the period, although division loss narrowed by 57% to MYR3.7 million (US$880,000) due to better operational efficiency.
Sales and Marketing also saw profit for the full year grow 45% to MYR26.5 million (US$6.3 million), while Technical Support and Management narrowed its loss by 40% to MYR24.7 million (US$5.9 million).
RGB said it expects market conditions to remain volatile throughout 2022 but is confident that a “relatively stronger recovery in the gaming market” will lead to a better performance.
“The Group is continuing to embark on new avenues by optimizing its existing resources to increase revenue during this unprecedented period and at the same time, to further expand the market on the remote gaming solutions for land-based casinos,” RGB said.
“The Group has also put in place stringent health and precautionary measures at all its properties to comply with the relevant standard operating procedures and to ensure the safety and well-being of its employees and visitors at all times.”
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