Tech Distributor Asia Pioneer Slashes Intermediate Losses 27 pct

The median loss suffered by the owners of Asia Pioneer Entertainment Holdings Ltd. fell 26.9% year-on-year to HK$7.13 million ($912,179), the company said in a Friday report to the Hong Kong Stock Exchange.

The company said it was “mainly due to an increase in sales” during its latest reporting period to June 30.

Group’s Q2 2023 loss was just shy of HK$3.36 million.

No dividend has been paid or offered during the current interim period.

Through its Asia Pioneer Entertainment division, the company has the authority to distribute electronic gaming equipment to six casino licensees in the city in Macau, while also providing these technologies to land-based casinos in other parts of the Asia-Pacific region. The group additionally provides technical support and consulting for gaming equipment.

For the six months to June 30, Asia Pioneer’s group revenue was HK$7.67 million, just shy of HK$2.69 million a year earlier. The majority of its 2023 interim revenue came in Q2. In other words, it was HK$5.91 million.

First-half sales of technology sales, electronic game equipment and spare parts amounted to HK$4.77 million, up 679.5% from HK$612,056 in the first half of 2022.

The group’s operating expenses fell 13.2% year-on-year to HK$7.21 million during its latest reporting period.

BY: 토토사이트

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