Revenue derived from technical sales and distribution of electronic gaming equipment (EGEs) experienced a significant decrease of 89.4% to HK$3.8m. Revenue from repair services also declined by 65.3% to HK$348,025, and revenue from consultancy and technical services dropped 32.2% to HK$1.4m.
Ape Macau’s financial report stated that the outbreak of novel coronavirus disease (Covid-19) in Macau and Southeast Asia continued to adversely affect the Group’s performance in the third quarter of 2021. This led to weaker demand for technical sales and distribution of EGEs.
The cost of sales and services for the period decreased significantly from HK$26.2m in 2020 to HK$4.9m. As a result, the gross profit for the nine-month period declined to HK$603,132 compared to $12.9m in 2020.
The company’s operating expenses amounted to HK$13.5m, reflecting a 7.4% decrease attributed to voluntary salary cuts taken by Ape Macau’s senior management team. Directors’ remuneration reached HK%2.6m, and other staff costs totaled HK$6.7m. Finance costs declined by 38% to HK$58,351, while other losses amounted to HK$46,964, significantly lower than the HK$1.1m of other income generated last year.
Overall, 2021 incurred losses of HK$13.0m, representing a 44.7% decrease from the previous year. These losses were lower than in 2020 due to a one-time impairment of finance lease receivables of approximately HK$22.9m.
