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Kingsmen Creatives reports lower full-year profit
KINGSMEN Creatives reported a 37.6 per cent year-on-year drop in net profit for FY16 to S$11.9 million.
In FY15, the group had recognised a one-off gain of S$5.9 million from the disposal of interest in Kingsmen CMTI Public Company Limited and the fair value of the remaining interest in the company. In FY16, this non-recurrence, in addition to lower margins for retail & corporate interiors works and higher operating costs impacted the group's bottom line.
Revenue came to S$329.7 million for the year ended Dec 31, 2016, a 0.6 per cent increase over FY15.
Earnings per share fell to 6.02 Singapore cents, from 9.71 cents previously.
The board is recommending a final dividend of 1.5 Singapore cents per share.