Malaysian-based gaming product distributor RGB International Bhd has reported a profit attributable to owners of the company of MYR9.3 million (US$2.1 million) for the three months to 31 December 2022, reversing an MYR549,000 (US$122,000) loss for the prior year period. It also booked a profit of MYR4.6 million (US$1.0 million) for FY22, improved from an MYR10.3 million (US$2.3 million) loss in 2021.
The improved results follow significant revenue increases across all operating segments, with group-wide revenue of MYR119.8 million (US$26.7 million) representing a 117% year-on-year increase in 4Q22.
This included a 126% increase in revenue from the Sales and Marketing division to MYR85.5 million (US$19.1 million), mainly due to an increase in the number of products sold, with segment profit up 111% to MYR10.8 million (US$2.4 million).
In the Technical Support and Management division, Q4 revenue increased by 95% to MYR32.7 million (US$7.3 million) due to the better performance and increase in operating capacity in most outlets, while Engineering Services recorded a 535% increase in revenue to MYR1.10 million (US$245,000).
Commenting on its prospects moving forward, RGB said, “The tourism and hospitality industries are expected to continue recovering, aided by the reopening of border restrictions and increase in international travel, especially in the regions where the Group operates.
“Based on the favorable market outlook, the Group expects to perform significantly better in financial year ending 31 December 2023, backed up by the strong orders secured to date, despite facing inflationary pressure on its operating costs.”
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