Gaming tech provider RGB International Berhad reported revenue of MYR86.5 million ($20.6 million) for the third quarter of 2018, 41% higher than the same period last year.
For the first nine months of the year, revenue was up 90% year on year, to MYR300.7 million ($71.8 million), according to the financial results filed with the Malaysian Stock Exchange.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter was MYR21 million ($5 million), a 17% increase from the same period last year. Net profit was MYR12.1 million ($2.9 million), 27% higher year on year.
Sales and marketing division (SSM) revenue was MYR56.2 million ($13.4 million), 46% higher year on year, while profit was MYR7.3 million ($1.7 million) year on year. The increases for the division were attributed to “increase in number of product sold in this quarter,” as well as “bulk sales to an Integrated Resort in Indochina.”
The company noted a 13% decrease in profit before tax for technical support and management (TSM) in the third quarter, to MYR6.7 million ($1.6 million), “due to lower hold factors in certain outlets, higher depreciation on new machines for upgrading and expansion and increase of headcount in certain region.”
For the first nine months of 2018, TSM profit before tax was still up, by 1%, to MYR20.4 million ($4.9 million), “primarily due to a better performance in certain outlets despite an increase of depreciation on new machines and higher headcount,” the report read.
Research and development expenditures were cited as reason for losses in other areas, amounting to MYR398,000 ($95,000) for the quarter and MYR892,000 ($213,000) from January to September.
For the upcoming periods, RGB said it “continues to capitalize on the strong performance of new and existing products under its portfolio in SSM division, to increase number of concession machines through the existing and new concessions, to carry out further improvement in the performance of concession machines in TSM division, to promote the provision of engineering expertise to all licensed operators across the region and exploring into new markets outside Asia.”
The company added that “barring unforeseen circumstances,” it will perform better for the whole of 2018 compared to the previous year.
