SINGAPORE (May 10): Kingsmen Creatives reported 1Q18 earnings rose 16.2% to $0.45 million from $0.38 million a year ago.
For the 1Q18 ended March, the group recorded a revenue of $61.0 million, a decrease of 7.8% compared to $66.2 million a year ago.
The Exhibitions & Thematic division registered a revenue of $29.9 million in 1Q18, an increase of 18.5% from $25.2 million in 1Q17. The increase in revenue was due to the completion of several major events in 1Q18.
The Retail & Corporate Interiors division recorded a revenue of $24.9 million in 1Q18, a decrease of 29.1% compared to $35.1 million in 1Q17.
The Research & Design division registered a revenue of $3.3 million in 1Q18, an increase of 14.6% from $2.9 million in 1Q17.
The Alternative Marketing division achieved revenues of $2.9 million in 1Q18, relatively unchanged compared to 1Q17.
The key contributors to the division's revenue included events and projects from clients such as Asia-Pacific Association for International Education, Automobile Association of Singapore, Robinson and Samsonite.
There was also a 2.2% rise in other items of operating expenses to $16.4 million.
Kingsmen says the 1Q18 results were in line with the group’s overall expectation for the year.
As at April 30, the group has secured contracts of $195 million, of which $156 million is expected to be recognised in FY18.
Barring unforeseen circumstances, the group expects FY2018 to be a profitable year.
Shares in Kingsmen Creatives closed 0.5 cent higher at 59 cents on Thursday.
