SINGAPORE (Feb 7): UnUsUaL, the concert promoter and event producer, reported 3Q earnings more than doubled to $2.5 million from $0.97 million a year ago.
Revenue rose 143% to $10.6 million from $4.4 million a year ago. Promotion revenue increased by $5.2 million while production revenue increased by $1.0 million.
Cost of sales increased 177% to $4.5 million. This was mainly due to increase in the cost of external resources.
Gross profit doubled to $4.5 million to $2.2 million.
Administrative expenses increased 51.8% to $1.5 million while finance expenses narrowed to $0.9 million from $3.6 million.
UnUsUaL, which was acquired by mm2 Asia before its listing, says demand for concerts by well-known entertainers remains vibrant both in Singapore and in the countries where it operates.
In 3Q, the group worked to extend its promotion activities to North Asia with events slated over the next two years.
Shares in UnUsUaL closed 1 cent higher at 42 cents.
