Asia Pioneer issues profit warning on 81% revenue decline for FY21

Macau’s Asia Pioneer Entertainment has warned that it expects to report an 81.1% year-on-year decline in revenue for the 12 months to 31 December 2021, down from HK$40.5 million (US$771,000) in 2020 to around HK$7.6 million (US$145,000).

It is the second successive year of big declines for the electronic gaming product distributor, with APE having previously suffered a 51% fall in revenues in 2020.

The company said via a profit warning that it had recorded decreases in revenue for its technical sales and distribution segment, its consultancy and technical services segment and its repair services segment of approximately 86.4%, 27.2% and 38.4% respectively. The new smart vending machines business generated a revenue of around HK$150,000 (US$19,000).

Source: https://www.asgam.com/index.php/2022/03/21/asia-pioneer-issues-profit-warning-on-81-revenue-decline-for-fy21/