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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions