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Spackman Entertainment swings back into the black in 1H

The Editor
The Editor8/10/2017 05:40 PM GMT+08  • 3 min read
Spackman Entertainment swings back into the black in 1H
SINGAPORE (Aug 10): Spackman Entertainment Group, the Korean entertainment production groups, recorded a net profit of US$4.4 million ($6 million) in 1H17 compared to a net loss of US$3.5 million in 1H16.
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SINGAPORE (Aug 10): Spackman Entertainment Group, the Korean entertainment production groups, recorded a net profit of US$4.4 million ($6 million) in 1H17 compared to a net loss of US$3.5 million in 1H16.

Revenue increased 38% year-on-year to US$10.5 million for 1H17 mainly as a result of an increase of US$2.2 million from distribution of films and others, an increase of US$0.3 million from leasing equipment business of Frame Pictures Co. and an increase of US$0.3 million from production of films.

The increase in revenue from distribution of films and others was mainly due to the recognition of the share of profit for acting as the producer for Master of US$3.8 million and return on investment as a passive investor for Master of US$0.2 million for 1H17.

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