KUALA LUMPUR (Aug 24): RGB International Bhd posted a net profit of RM26.5 million for the second quarter ended June 30, 2023 (2QFY2023), compared with a net loss of RM2.66 million a year earlier, driven by higher earnings from its sales and marketing (SSM) and technical support and management (TSM) divisions.

The Penang-based integrated gaming solutions specialist registered earnings per share of 1.72 sen, versus a loss per share of 0.17 sen in 2QFY2022.

Quarterly revenue climbed over six times to RM333.66 million from RM50.33 million a year ago, also on the back of better earnings from SSM and TSM divisions, its filing to local bourse showed.

For the cumulative six months ended June 30, 2023 (6MFY2023), RGB reported a net profit of RM37.04 million from a net loss of RM5.97 million in the same period last year. Revenue jumped more than five times to RM428.82 million from RM82.37 million in 6MFY2022.

Looking at the favourable market outlook, the group expects to achieve a strong performance in the financial year ending Dec 31, 2023 (FY2023), backup by the sturdy orders secured to date, despite facing inflationary pressure on its operating cost.

At noon close on Thursday (Aug 24), shares in RGB were unchanged at 41 sen, valuing the company at RM627.22 million. Year-to-date, the stock has appreciated by 115.79% from 19 sen.