MM2 Asia FY15 net profit surges 85% with all-round growth

MM2 Asia's full-year net profit jumped 85 per cent as the movie maker grew both its production and distribution arms.

Net profit for the year ended March 31, 2015 was S$5.1 million, or two Singapore cents per share, as revenue rose 51 per cent to S$24.3 million.

With more production projects, the company's production revenue more than doubled to S$15 million during the year from S$6.4 million previously. Distribution revenue also rose 20 per cent to S$8.3 million during the year.

MM2 said that it will undertake two to three projects in Hong Kong, Taiwan and China in the coming year. Having acquired post-production house VividThree Productions and inked an agreement to buy cinema businesses in Malaysia, the company said that it "will continue to seek opportunities" to extend its business.

The stock closed at 38 Singapore cents on Tuesday.