KUALA LUMPUR (Feb 26): Slot machine distributor RGB International Bhd’s (KL:RGB) net profit for the fourth quarter jumped to a record high as the company completed the delivery and commissioning of bulk order of slot machine equipment to the Philippines.

The company posted a net profit of RM31.84 million in the three months ended Dec 31, 2024 (4QFY2024) compared with a net loss of RM37.88 million a year ago. Quarterly revenue jumped more than three times to RM371.82 million from RM100.12 million.

During the quarter under review, RGB declared a fourth interim dividend of 0.6 sen per share plus a special dividend of 0.4 sen — payable on April 18.

This brings its total annual dividend to the highest in ten years at four sen per share, up from two sen in the previous year.

For the twelve months ended Dec 31, 2024 (FY2024), the Penang-based company’s net profit jumped nearly four times to RM92.08 million from RM25.39 million. Cumulative revenue grew nearly 11% to RM775.72 million from RM699.3 million a year ago.

Earnings per share ballooned to 5.98 sen versus 1.65 sen in FY2023. RGB’s share price has climbed 60% since January last year from the 25 sen-level. The stock closed a sen higher at 40.5 sen on Wednesday, giving it a market capitalisation of RM627 million. 

In terms of outlook, RGB said its prospects remain robust, bolstered by the promising market conditions, especially in the Philippines and Cambodia.

This is driven by the Philippines’ state-owned casino regulator Philippine Amusement and Gaming Corp’s (Pagcor) target to hit a record gaming revenue in 2025.

“As a pivotal slot machine distributor and major player in the machine concession business in the region, the group is well-positioned to capitalise on this industry growth,” it said.