Corporate News
MM2 ASIA: STRONG REVENUE GROWTH IN ALL BUSINESS SEGMENTS
- mm2’s FY2019 revenue rose 38.6% y-o-y to S$266.2 million on the back of full year contributions from its cinema business
- Company recorded a net profit of S$28.7 million in FY2019
- Company remains focused on enhancing consumer experience in regional markets, particularly through Out-of-Home Entertainment Platform businesses
mm2 Asia Ltd. (“mm2 Asia”, “mm2 全亚影视娱乐有限公司” or collectively with its subsidiaries, the “Group”), today announced its financial results for the full year ended 31 March 2019 (“FY2019”).
Chief Executive Officer of mm2 Asia, Mr. Chang Long Jong (章能容), commented on the Group’s results, “FY2019 performance was a collaborative effort delivered by the Group. We saw, for the first time, the full year contribution from our Singapore cinema operations, and the results are encouraging. On the other hand, our content production, post production, and event production and concert promotion businesses have all made inroads in North Asia. We continue to see operational synergies across our business segments, which we look to capitalize on going forward.”
Executive Chairman of mm2 Asia, Mr. Melvin Ang ( 洪伟才) , annotated, “Amidst the global economic uncertainties and heightened market risks, we remain optimistic in our pipeline of regional projects, which include a slate of feature films, concerts, and family entertainment shows. Simultaneously, we are looking to strengthen our value proposition as one of the leading content creators in Asia, with an increasing focus on our Out-of-Home Entertainment platforms, led by UnUsUaL, Vividthree and mm2 Asia’s cinema business, to collectively enhance our consumer experience across regional markets.”
Mr. Ang added, “Enhancing shareholder value has always been a key focus for us. We are actively exploring different avenues to maximise shareholder value, including the possibility of seeking a foreign listing of our cinema business.”
