APE Macau issues profit warning amid 74.6% revenue decline in H1

| By Marese O'Hagan
Casino technology provider Asia Pioneer Entertainment Holdings Limited (APE) has shared its preliminary results for the first half of 2021 ending 30 June, projecting a revenue decline of 74.6% compared to its results from the first half of 2020.

The supplier has estimated that revenue from the first six months of 2021 will amount to HK$3.0m (£279,156/€326,385), a sharp decline from HK$11.8m (£1.0m/€1.2m) in the same period of 2020.

APE also projected that technical and repair services revenue would drop by 79.9%, revenue from the company’s business units would decline by 79.6%, and revenue from sales of equipmentwould decrease by 40.7% year-on-year in H1.

The warning revealed that the company’s loss before income tax may come to HK$9.4m (£874,688/€1.0m), 67.5% less than the loss of HK$29.0m (£2.6m/€3.1m) recorded in the previous H1 results.

APE’s board concluded that the impact of the novel coronavirus (Covid-19) pandemic and the lack of impairment loss of finance lease receivables – which offset otherwise poor 2020 figures – affected the results.

The supplier’s full H1 results are expected to be released on or before 13 August 2021.

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