Unusual Limited to record net loss for FY2021 on pandemic impact

Published Wed, May 19, 2021 · 07:27 PM

CATALIST-LISTED Unusual Limited is expected to record a net loss for FY2021 compared with a net profit a year ago on the back of disruptions from the pandemic, it said in a profit guidance on Wednesday after trading hours.

Unusual Limited, mm2 Asia's events production unit, said that it is not spared from the impact of Covid-19, given that large-scale live events and concerts in Singapore and the region have been suspended or scaled down.

The group is also expected to record an impairment loss on financial assets during the year which contributed significantly to the net loss for FY2021, with Unusual Limited still in the process of finalising its unaudited financial results for FY2021.

It added that further details of the group's financial results will be disclosed when the company announces its unaudited financial results for FY2021.

In October last year, the group had warned that it is expected to report a net loss for H1 FY2021 as compared with a net profit for the corresponding period in H1 FY2020 due primarily to the negative impact of Covid-19.

The counter closed at 17.5 Singapore cents on Wednesday, up 0.2 cent or 1.16 per cent, prior to the announcement.