Spackman achieves Q1 profit on revenue from Master

Singapore

SPACKMAN Entertainment Group swung into a first-quarter net profit of US$4.8 million as it recognised distribution revenue as a producer of the 2016 film Master.

On a per share basis, profit was 1.04 US cents for the three months ended March 31 based on the number of shares issued after a March 20 placement. A year ago, the film production company reported a net loss of US$966,000, or 0.21 US cent per share based on the same number of issued shares. Without adjusting for the placement, Q1 net profit would have been 1.18 US cents per share, compared to a 0.24 US cent loss per share a year ago.