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Kingsmen Creatives' FY14 profit slides 3.3%

Communication design and production group Kingsmen Creatives reported a 3.3 per cent year on year slide in net profit to S$17.15 million for FY14, weighed down by higher operating expenses.

This was despite a 13.6 per cent rise in revenue to S$336.41 million. Meanwhile, earnings per share worked out to 8.84 Singapore cents for the full year, down from 9.21 cents previously.

Executive chairman Benedict Soh said: "The dip in net profit is a result of a one-off settlement for costs for the legal case in China, which we announced in the first half of the year. Without these costs, we would have continued to deliver positive growth in our bottom line. All our offices are bullish about the prospects for 2015 and we continue to secure new contracts in all our business divisions. We expect 2015 to be another busy one for us."

The group has proposed a final dividend of 2.5 Singapore cents per share.

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