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Kingsmen Creatives sinks into the red in Q1

KINGSMEN Creatives sank into the red with a loss of S$882,000 for the first quarter ended March 31, 2016, versus a profit of S$787,000 a year ago, due partly to higher costs.

The group recorded a revenue of S$61.45 million, up 18.4 per cent, mainly due to higher revenue from its retail & corporate interiors business.

Loss per share was 0.45 cent, versus earnings per share of 0.4 cent a year ago.

Kingsmen Creatives said: "Barring unforeseen circumstances, we are cautiously optimistic about the outlook for our various business segments, despite the challenges posed by global economic uncertainty. As at 30 April 2016, we have secured contracts of S$174 million, of which S$154 million is expected to be recognised in FY2016."