Kingsmen Creatives has narrowed its net loss for 1HFY2021 to $1.7 million from $5.3 million this time last year. Revenue in the same period was down 4.8% y-o-y to $117.1 million.
The company notes that its business activities have picked up with “good orders and enquiries.”
However, the company warns that the recovery momentum has been affected with the emergence of new Covid-19 variants.
The company notes that events, shows and conferences originally planned for the later part of 2021 have been either postponed or cancelled.
While clients continue to be cautious in committing projects, it is seeing more enquiries for 2022 and beyond.
“We look to regain our recovery momentum once the pandemic situation stabilises and regional
economies open up,” says group CEO Andrew Cheng.
As at July 31 2021, the company secured contracts of $272 million, of which S$228 million is expected to be recognised in this FY.
Kingsmen shares closed Aug 13 at 27 cents, unchanged for the day and up 3.85% year to date.