Read about how CEO Leslie Ong, switches focus from China to the West, develops new revenue streams
UnUsUaL reports 32% higher FY19 earnings of $13.2 mil on improved revenue & margins
27/05/19, 06:37 pm
SINGAPORE (May 27): UnUsUaL Limited has reported $13.2 million in net profit for the FY19 ended March, representing a 32% increase from FY18 net profit of $10 million due to higher revenue and improved margins.
Revenue for the full year rose 22.6% to $56.9 million compared to $46.4 million a year ago.
The topline growth was mainly attributed to higher revenue contributions from the company’s Promotion and Others segments.
In line with the higher revenue, gross profit grew by $5.1 million to $23 million for the full year, while operating expenses increased 16.6% to $6.9 million.
Gross and net profit margins grew by 1.8 and 1.6 percentage points to 40.4% and 23.2%, respectively, over FY19.
Going forward, UnUsUaL says it is looking towards a “reasonable [financial] performance”, having established promotion and production plans for “globally appealing shows” for the next 12 months in view of the competitive and challenging local & regional live entertainment industries.
Commenting on the group’s “stellar” FY19 earnings, Leslie Ong, CEO of UnUsUaL, says the latest set of financial earnings is a reflection of the company’s capabilities as one of the leading industry names in Asia.
“As we keep up our momentum and chart further growth in the forthcoming year, we will continue to improve operations and strive to strengthen our business with even more global- acclaimed live entertainment IPs that value-add and boost our target audience beyond the traditional concert goers,” says Ong.