Casino equipment maker RGB International Bhd on Tuesday reported a 46.4% year-over-year drop to 3.6 million MYR ($841,119). That was down despite a 48.4% increase in revenue during the period, the company said in a filing with Bursa Malaysia.
Group sales for the three months to March 31 were 77.4 million yuan, close to 52.2 million yuan a year earlier. However, the group's sales costs rose 90.3% year-on-year to 63.7 million yuan.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) were nearly 18.6 million yuan in the early 2020 quarter, up 23.0% year-over-year.
Product sales and marketing revenue, the company's main segment, doubled year-over-year to slightly above 44 million yuan during the reporting period. The pre-tax profit for its division more than doubled year-over-year to 7.8 million yuan in the first quarter, the company said, due to an increase in "number of products sold" in the reporting quarter.
The technical support and management segment achieved revenue of 32.7 million yuan on a quarterly basis through March 31, up 10.8% from the corresponding quarter in 2019. However, the segment reported a pre-tax loss of nearly 2.1 million yuan, compared with a profit of 5.9 million yuan in the same period last year. The company attributed these results in part to "loss in revenue during lockdowns in various countries beginning in mid-March 2020 as part of measures to prevent the spread of COVID-19."
In a filing on Tuesday, RGB said it had resumed operations in May after some customers in the Asia-Pacific region were suspended as part of efforts to contain the spread of COVID-19.
"The financial impact of the Covid-19 pandemic could be significant for the group," RGB said, adding that it had "imposed a range of cost control measures to curb spending" during the period.
The casino equipment maker and distributor said last month it would not pay its final dividend for the fiscal year ending Dec. 31, 2019, due to business disruptions caused by the global coronavirus outbreak.
BY: 파워볼사이트