Catalist-listed Vividthree posts Q4 net profit of S$1.5m
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Janice Heng
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CATALIST-LISTED Vividthree Holdings posted net profit of S$1.5 million for the fourth quarter ended March 31, more than 20 times the S$60,000 figure for the year-ago period, in its results release on Monday evening.
This was on the back of revenue more than doubling to S$4 million from S$1.8 million in Q4 2018.
The latest figures took full-year net profit to S$3.3 million, up 20 per cent from S$2.7 million the year before, in Vividthree's first full-year results since listing on Catalist in September 2018.
The virtual reality, visual effects and computer-generated imagery production studio said it will stay focused on strengthening its presence in Asia. Following the completion of a Beijing leg, its flagship Train To Busan VR tour will travel to another province in China, Xiamen, where Vividthree has granted a local promoter one-year exclusive territorial rights. A sequel is also planned for 2020, and the group is in negotiations to take the VR tour to other parts of the world.
Earnings per share was 0.46 Singapore cent. No dividend was declared "as the group intends to conserve cash for expansion and other business opportunities".
Vividthree shares closed up 0.5 Singapore cent or 3.07 per cent at 16.8 cents on Monday before the results release.
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