RGB swings into profit in fourth quarter

Malaysia-listed RGB International swung to profit in 4Q21 and says it foresees a relatively stronger recovery in the gaming market in 2022 compared to the prior year period.

Revenue in the fourth quarter amounted to RM56.6m, down four per cent year-on-year, while loss narrowed to RM166,000, down from a loss of RM6.7m in the prior year.

RGB said its sales and marketing segment of the business gained three per cent revenue in the quarter due to an increase in the number of products sold and variation in product mix.

However, the company’s technical support and management segment revenue declined 19 per cent, mainly due to a resurgence in Covid-19 cases.

However, the company noted it achieved better operational efficiency in the TSM division, reducing loss before tax by 57 per cent in the quarter.

Looking ahead, RGB said it expects global economic conditions to continue recovering with the progressive roll-out of mass vaccination programmes and the reopening of borders.

Source: Asia Gaming Brief