Newly listed Kin Global to book H1 net loss on one-off listing expenses, delayed project awards
The sports events manager is expected to release its H1 FY2026 results by Aug 14
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[SINGAPORE] Sports events manager Kin Global is expected to post a net loss for the first-half ended Jun 30, reversing from a net profit in the year-ago period.
The company, which listed on the Catalist board of the Singapore Exchange in April, incurred one-off listing expenses. Excluding these costs, it would have recorded “a marginal profit” for H1, said the group in a bourse filing on Friday (Jul 31).
It attributed the decline in its H1 performance to lower revenue from its design-and-build segment due to delays in the awarding and commencement of projects.
Still, its overall gross profit margin improved in the half-year period, mainly driven by “continued project cost optimisation initiatives”.
These include “more disciplined procurement and cost management practices” in its two business segments: event delivery and management, and design-and-build.
Kin Global said its business strategy to pivot into new pillars in the events-tourism industry – meetings, incentives, conferences and exhibitions (Mice), entertainment, sports and lifestyle – remains unchanged.
“The group will continue to expand its core capabilities in its events delivery and management-services segment, and strategically expand to capture the high-growth opportunities in the wider events tourism industry,” it added.
The company said its long-term growth outlook remains supported by Singapore’s push to expand tourism and sports events.
It noted that Singapore aims to increase tourism receipts to between S$47 billion and S$50 billion by 2040, from S$29.8 billion in 2024, with business events expected to be a key contributor.
Kin Global also cited the S$165 million Major Sports Events Fund, which seeks to secure multi-year sporting events, and the Greater Sentosa Master Plan as initiatives that could drive demand for its event services.
Kin Global is expected to release its H1 FY2026 results by Aug 14.
The counter ended Friday flat at S$0.162, before the announcement.
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