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Spackman swings back to the black in FY17

Samantha Chiew
Samantha Chiew2/28/2018 06:12 PM GMT+08  • 3 min read
Spackman swings back to the black in FY17
SINGAPORE (Feb 28): Spackman Entertainment has swung back to profitability in FY17, posting earnings of US$2.98 million ($3.93 million), compared to a loss of US$2.43 million in FY16.
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SINGAPORE (Feb 28): Spackman Entertainment has swung back to profitability in FY17, posting earnings of US$2.98 million ($3.93 million), compared to a loss of US$2.43 million in FY16.

Revenue for the full year ended Dec 31 2017 was 36% higher at US$20.6 million from US$15.1 million a year ago.

This was mainly attributed to an increase of US$4.90 million from distribution of films and others due to the recognition of the share of profit of US$3.98 million for acting as the producer for Master and sales of distribution rights/video on demand (VOD) sales for the ancillary market in Korea for The Outlaws of US$2.60 million, as well as an increase of US$2.25 million from leasing of equipment to third parties by Frame Pictures which was acquired in March 31 2017.

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