RGB International, the Malaysian gaming products manufacturing and distribution company, has announced its results for the fourth quarter of 2022 and the numbers show a profit attributable to owners of the company of 9.3 million Malaysian Ringgit.
That sum would roughly convert into 2.1 million United States dollars, a much better result than the loss of 122,000 dollars that was recorded in the similar period of 2021.
Moreover, the full 2022 fiscal year brought a profit of 4.6 million Malaysian Ringgit (1 million U.S. dollars), a significant improvement compared to the loss of 10.3 million Malaysian Ringgit (2.3 million U.S. dollars) that was recorded in 2021.
The improved results were due to revenue increases recorded across all operating segments in the fourth quarter, with group-wide revenue amounting to 119.8 million Malaysian Ringgit (26.7 million United States dollars), a figure which represents a vast increase of 117 percent year-on-year.
The Sales and Marketing division recorded a revenue increase of 126 percent to an amount of 85.5 million Malaysian Ringgit (19.1 million U.S. dollars), mostly due to an increase in the number of products sold to gaming venues. The division’s profit went up by 111 percent year-on-year to a total of 10.8 million Malaysian Ringgit (2.4 million U.S. dollars).
The Technical Support and Management division also recorded a revenue increase in the fourth quarter, 95 percent compared to the same period of the previous year, amounting to 32.7 million Malaysian Ringgit (7.3 million U.S. dollars). The good result was due to overall better performance but also to an increase in operating capacity.
The company’s Engineering Services division recorded by far the biggest revenue increase, no less than 535 percent in the fourth quarter of 2022, but the total amount was just 1.1 million Malaysian Ringgit (245,000 U.S. dollars).