While all segments showed improvement, the increase was driven primarily by the group’s cinema and concert businesses, which benefited from the government easing pandemic restrictions such as removing capacity restrictions in cinemas and allowing the resumption of in-person concerts and events.
Local entertainment content and media company mm2 Asia announced that it has narrowed losses for 1HFY2023 ended September by 52.7% to $5.4 million, compared to $11.4 million in 1HFY2022.
This comes on the back of revenue increasing by 70.7% y-o-y to $79.0 million from $46.3 million a year ago. Gross profit hence came in 169.7% higher at $25.3 million.
