This follows a 713.4% y-o-y surge in revenue to $25.6 million, mainly due to the lifting of capacity restriction limit in April 2022 which resulted in more projects resuming post-pandemic.

On the back of the increased projects, cost of sales increased by 393.2% y-o-y to $21.7 million in FY2023, while gross profit stood at $7.6 million compared to a gross loss in FY2022.

In a statement, the company says it is “back to normal” with the gradual return to normalcy post-pandemic, evident from the response to its key business of concert and event promotion for the past 12 months.

“We have been working very hard since the beginning of the year to bring our business back to the ‘good old days’ and I think we have performed well,” says UnUsUaL CEO Leslie Ong, highlighting its sold-out concerts in Singapore, Kuala Lumpur, Sydney and Melbourne.

“We are continuing to boost our project pipeline, and we will make the announcements on these projects as and when appropriate,” he adds.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/capital/results/vicplas-reports-521-lower-profit-after-tax-42-mil-fy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023</a></b></span>

Shares in UnUsUaL closed 0.5 cents higher or 2.66% up on May 24 at 19.3 cents.

UnUsUaL reverses into $1.8 mil profit in FY2023 as revenue soars 713.4% y-o-y 

Data is the new oil but is it as dirty?

'Transition credits' could sweeten deal for early retirement of coal-fired power plants: MAS, McKinsey paper

DPM Lawrence Wong appointed as GIC’s deputy chairman

Will the Rising Sun keep rising?

Fed signals higher-for-longer rates with hikes almost finished

Jamie Dimon’s 7% rates may come even without the Fed's help

A mild retreat by risk-free rates won’t help equities to rally 

RHB pegs ISOTeam’s TP at 5 cents after rights issuance

UnUsUaL reverses into $1.8 mil profit in FY2023 as revenue soars 713.4% y-o-y

Related News

Highlights

Data is the new oil but is it as dirty?

Related News

Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023

Southern Alliance Mining reports narrower net loss of RM0.8 mil for 2HFY2023

Lincotrade & Associates Holdings sinks into the red in FY2023 with loss of $8.74 million