Corporate News
- Revenue improved to S$68.4 million in 2QFY2020, bolstered by higher contributions from its Events and Post-Production businesses
- Achieved net profit of S$5.3 million in 2QFY2020
- Core business remained steady, with increasing co-productions in Southeast Asia and a slate of deals related to theatrical movies and Over-The-Top (“OTT”) content production
- Cinema segment saw higher 2QFY2020 profit before tax, despite lower revenue, due to operational optimisation from inter-alia, increased cost efficiencies
mm2 Asia Ltd. today announced its financial results for the threemonths ended 30 September 2019 (“2QFY2020”) and half-year ended 30 September 2019 (“1HFY2020”).
FY2020 Outlook
Executive Chairman of mm2 Asia, Mr Melvin Ang (洪伟才) noted, “We remain confident in our key strategy and believe that we are on track to maintain our momentum in FY2020. Having established a strong foothold and proven track record in the Chinese markets in Asia, we are poised to take advantage of the opportunities arising from the surge in demand for Asian content. Our regional presence and strong network in Southeast Asia and North Asia provide us direct strategic access to audiences, valued IPs and talents across multiple markets. Our Core and Cinema segments continued on a steady trajectory with a slate of production deals and a notable pipeline of blockbuster title releases in FY2020. The Group has also been gaining positive traction during the fiscal period, particularly in our Events and PostProduction segments, where UnUsUaL delivered an exceptional quarter and Vividthree posted turnaround earnings. We are encouraged by how far we have come, and will continue to drive the Group’s performance with the solid foundation that we have built across all our businesses.”
