Malaysian gaming machine distributor RGB International Berhad saw its profit grow 7% to MYR6.9 million (US$1.6 million) in the three months to 31 March 2019, driven by higher revenue in its Sales and Marketing (SSM) division.
Group-wide revenue for the quarter increased 9% to MYR52.2 million (US$12.5 million), with revenue in SSM rising 45% to MYR22.0 million and EBITDA by 688% to MYR4.03 million “due to an increase in the number of products sold, rebate incentives and variation in product mix in this quarter.”
Revenue in the Technical Support and Management (TSM) division decreased by 8% in 1Q19 to MYR13.0 million due to low hold factors in certain outlets and higher depreciation on new machines, while Engineering Services also booked a slight decline to MYR282,000.
While group-wide results were encouraging, RGB said it expects improved performance on 1Q19 revenue and profit as the year continues.
“The Group continues to capitalize on the strong performance of new and existing products under its portfolio in SSM division, to provide additional number of concession machines through the existing and new concessions, to continue aggressive improvement in the performance of concession machines in TSM division, to promote the provision of engineering expertise to across the region and exploring into new markets outside Asia,” it said.
“Barring unforeseen circumstances, the Group expects to achieve a better performance this year.”
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