Unusual’s H1 net profit up by more than 10 times to S$14.1 million

ENTERTAINMENT company Unusual Limited’s : 1D1 0% net profit soared to S$14.1 million for the first half of its financial year ended Sep 30, from just S$1 million in the same period last year.

Revenue also hit a record S$66.4 million, an increase of 954 per cent year on year over the same period, said the company in a bourse filing on Thursday (Nov 9).

The increase was due to a higher number of live concerts the company produced, as well as robust demand for tickets and overwhelming attendance at various shows, it said.

Earnings per share increased to 1.37 Singapore cents, compared to 0.1 cent a year ago.

Unusual said its successful strategy lies in procuring and executing the right projects, which were very well received by concert goers in Singapore and within the region. 

Despite strong competition in terms of concerts during the post-pandemic period, chief executive officer Leslie Ong said the first-half results have shown that the company has regained its footing.

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“I am confident about moving forward with the work of organising more compelling live concerts in our usual markets – Singapore, Kuala Lumpur, Sydney and Melbourne. Other than these cities, we are also considering promoting concerts in East Asian cities.”

Shares of Unusual dropped 0.5 per cent or S$0.001 to close at S$0.19 on Thursday.