Casino e-games and services provider RGB International Bhd reported improved results, cutting fourth-quarter losses and judging full-year losses year over year.
The group's fourth-quarter loss was modest at $76,000 million ($18,116) compared to $6.4 million a year earlier.
Malaysia-based listed RGB's annual loss was MYR 9.8 million, a significant decrease from MYR 28.7 million a year earlier.
Nevertheless, the company noted: "We expect market conditions to remain volatile during 2022 due to uncertainty amid the liquidity of the COVID-19 situation, particularly in the countries where the group operates."
However, it added: "Except for unexpected situations, the group expects the gaming market to recover relatively stronger than it did the previous year, and therefore expects to perform better in 2022."
In the group's Friday report to Bursa Malaysia, no dividend was recommended for the fiscal year ended December 31, 2021.
Revenue fell 4.4% year-over-year to 56.6 million MYR in the fourth quarter, compared to 59.2 million MYR in the year-over-year period.
In fact, revenue for the year was 216.3 million MYR, up 13.2% from the print year.
Group earnings before interest, taxation, depreciation and amortization (EBITDA) were mostly derived from three major business segments: sales and marketing, technical support and management, and engineering services.
Q4 EBITDA rose 84.0% year-over-year to MYR 14.3 million.
Annual group EBITDA was nearly 45.4 million MYR, up 56.7% from nearly 29 million MYR achieved in 2020.
"Sales in our technical support and management division fell 19% year-over-year in the fourth quarter," RGB executives said in a commentary, "mainly due to a resurgence of COVID-19 cases, which led to more intermittent lockdowns during the quarter."
However, it added that pre-tax losses in the fourth quarter were "down 57% year-over-year" as the company "achieved better operational efficiency in the technical support and management sector."
BY: 프라그마틱 슬롯 사이트