Asia Pioneer halves loss in year to Sept, revenue soars
Nov 09, 2023
Industry Talk, Latest News
Net loss attributable to the house owners of gaming tech specialist Asia Pioneer Entertainment Holdings Ltd for the primary 9 months of 2023 narrowed by 46.6 % year-on-year, to HKD7.1 million (US$910,743), the agency stated in a Wednesday submitting to the Hong Kong Stock Exchange.
The consequence was on revenue that rose by 263.6 % year-on-year, to simply above HKD14.6 million. Cost of gross sales and companies for the interval elevated by 115.4 % from a year in the past, to slightly below HKD11.0 million.
“The enhance in revenue was primarily due to the rise of earnings derived from technical gross sales and distribution of digital gaming tools, consulting and technical companies, restore companies and sensible merchandising machines enterprise by roughly 590 %, 147.5 %, 214 % and 150 % respectively, from the corresponding interval,” acknowledged the agency.
Hong Kong-listed APE’s pursuits embrace Asia Pioneer Entertainment Ltd, a Macau-based distribution, gross sales and servicing enterprise for on line casino slot machines and digital desk video games. The group additionally offers such know-how to land-based casinos in different elements of the Asia-Pacific area, together with technical help and consultancy on gaming tools.
In the 9 months to September 30, revenue from technical gross sales and distribution of gaming tools was HKD6.9 million, up from HKD998,305 a year earlier.
Income from consultancy and technical help stood at HKD5.0 million in the reporting interval, versus HKD2.0 million a year in the past. Repair companies produced HKD997,032 in revenue, a rise from HKD317,458 in the prior-year interval.
Since the second half of 2021, the group has diversified into supplying ‘sensible merchandising machines’. That phase generated HKD1.7 million in revenue, up from HKD678,462 in the comparable interval a year earlier.
APE stated that about 79 % of the group’s revenue throughout the 9 months to September 30 was derived from prospects in Macau.
The firm stated in commentary accompanying its newest outcomes that its purpose for 2023 was “to get again to profitability post-Covid”.
With Macau’s gaming and journey sectors “slowly returning to pre-Covid ranges, the group’s enterprise has improved considerably,” stated the group, including that its newest outcomes “mirrored this turnaround” in phrases of efficiency.
APE stated it anticipated its enterprise efficiency to “proceed to enhance” in the rest of 2023. “We really feel optimistic that we’ll get again to profitability pretty quickly,” it added.