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Kingsmen Creatives reduces red ink to $1.5 million, chalks up $284 million order book

The Edge Singapore
The Edge Singapore8/11/2022 07:33 PM GMT+08  • 2 min read
Kingsmen Creatives reduces red ink to $1.5 million, chalks up $284 million order book
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Kingsmen Creatives has reduced its 1HFY2022 losses to $1.5 million from $1.7 million recorded in the year earlier six months.

The company’s revenue in the same period has improved slightly by 4.5% y-o-y to $122.4 million.

“We are not out of the woods, but are encouraged to see a pick up in the volume of work and expect a strong second half performance as we drive forward in our recovery,” says group CEO Andrew Cheng.

“Our first half saw the continued impact of various lockdowns, restrictions and disruptions on our business volume, but our core business remains robust and we are seeing many more projects confirmed and coming onstream.

“We will continue to keep a tight rein on cost management and focus on improving efficiency and delivery to end the year positively and position ourselves well for the future,” adds Cheng.

The company is seeing a “return” of its exhibition and events business. Its thematic attractions market continues to be buoyant with a good pipeline. Kingsmen’s retail and corporate interiors division is having “good enquiries”.

See also: NeraTel reports 18.4% revenue growth in 3Q2022

As at July 31, the company has secured contracts of $284 million, of which S$247 million is expected to be recognised in 2022.

Kingsmen Creatives’ shares last traded at 28 cents.

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