GHY Culture & Media, which listed on the Mainboard of the Singapore Exchange (SGX) on Dec 18, 2020, has reported earnings of $38.1 million for the FY2020 ended December, more than three times higher than earnings of $12.4 million reported in the FY2019.

The media production company raised some $121.7 million in proceeds from its initial public offering (IPO) in December 2020. At its offer price of 66 cents per share, the group was estimated to have a market value of $708.7 million.

Revenue for the FY2020 nearly doubled to $127.1 million, 93% higher than FY2019 revenue of $66 million. The higher revenue was thanks to an increase in revenue contribution from the TV Program and Film Production business segment of some $47.9 million from six dramas sold and completed during the year. GHY also had two dramas and one online short-form video series filming in progress as at Dec 31, 2020, and one film series completed and broadcasted in FY2020.

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