Gaming tech specialist Asia Pioneer 1H loss up 4pct y-o-y
Aug 15, 2022
Industry Talk, Latest News
The interim loss attributable to the house owners at Asia Pioneer Entertainment Ltd widened by 3.9 p.c year-on-year, to HKD9.76 million (US$1.2 million), the agency stated in a Friday submitting to the Hong Kong Stock Exchange.
The group had reported a first-quarter internet loss of HKD 4.27 million.
The firm stated in commentary on its newest numbers it was “actively taking a look at steps to restructure” its digital gaming gear enterprise to “put together for the long run”.
Asia Pioneer is authorised to distribute digital gaming gear to Macau’s six on line casino licensees, and in addition supplies such know-how to land-based casinos in different components of the Asia-Pacific area. The group moreover offers technical help and consultancy on gaming gear.
During the six months to June 30, Asia Pioneer’s group income from contracts with prospects went down 10.6 p.c year-on-year, to simply underneath HKD2.69 million. Cost of gross sales within the reporting interval rose 46.1 p.c, to simply underneath HKD3.57 million.
Revenue from gaming gear distribution was HKD612,056, and was outstripped by that from consultancy and technical help, at HKD1.35 million. Repair companies produced HKD251,083, giving whole segmental income of simply over HKD2.22 million.
That was down 26.2 p.c year-on-year on the slightly below HKD3.01-million income from these actions within the first six months of 2021.
Since the second half of 2021, the group has diversified into supplying ‘good merchandising machines’. That produced HKD471,341 in income within the six months to June 30.
During the primary half, Asia Pioneer set up in Hong Kong a brand new wholly-owned subsidiary referred to as APE Digital Creations Ltd to pursue enterprise linked to a 3-D model of the Internet often called the ‘metaverse’, in addition to “associated companies”. No income was proven as booked from that enterprise within the first half.
The firm stated in commentary with the primary half outcomes: “The ongoing uncertainty of Covid-19 continues to have an effect on the operations and plans of our prospects.”
It added: “This has induced a lengthen affect on our companies and operations, significantly our digital gaming gear enterprise.”
Asia Pioneer said: “As a outcome, the group must diversify its enterprise strains, and in addition have a look at methods to minimise prices and bills.”