RGB International revenue falls in Q2

The company has posted revenue of MYR73.6m (US$17.3m).

Malaysia.- RGB International (RGBI) has shared its financial results for the second quarter of the year. Revenue was MYR94.9m (US$22.4m), a decrease of 4.7 per cent in year-on-year terms, but up 25 per cent sequentially. 

Some MYR77.5m (US$18.3m) came from sales and marketing of products, up 14 per cent in year-on-year terms. Technical Support and Management generated MYR16.3m (US$3.8m), down 46 per cent year-on-year primarily due to weaker performance at key outlets amid adverse weather conditions, high jackpot payouts and the temporary closure of some TSM outlets in the Poipet region in the current quarter. 

Profit attributable to owners fell 26 per cent year-on-year to MYR14m (US$3m). Profit before tax dropped 21 per cent to MYR16.1m (US$3.5 m). The company recorded earnings before interest, taxation, depreciation, and amortisation (EBITDA) of MYR17.8m, down 40.5 per cent from a year ago.

For the six months ended June 30, RGB International reported revenue of MYR168.5m (US$36.6m), down 46 per cent from the same period last year. Profit attributable to owners of the company fell 36 per cent to MYR26.4m (US$5.7m). Operating profit fell 39 per cent to MYR26.2m (US$5.7m), while profit before tax dropped 37 per cent to MYR28.9m (US$6.3m). The group’s gross profit narrowed 29 per cent year-on-year in H2 to MYR49.2m (US$10.7m).

RGB said that the group’s prospects “remain robust, bolstered by the promising market conditions, especially in the Philippines and Cambodia.”

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The company has posted revenue of MYR73.6m (US$17.3m). Malaysia.- RGB International (RGBI) has shared its financial results for the second quarter of the year. Revenue was MYR94.9m (US$22.4m), a decrease…