CATALIST-listed virtual reality, visual effects and computer-generated imagery production studio Vividthree saw its net loss widen to S$1.8 million for the six months ended Sep 30, 2021, from S$1.5 million a year ago.

Loss per share widened to 0.54 cents from 0.45 cents from the previous year.

However, its revenue surged 297.5 per cent to S$1.2 million in the same period, from S$299,816 the year before.

This was mainly due to recovery in the company's post-production segment, while the company's content production segment did not generate any revenue as some projects were put on hold due to Covid-19 capacity restrictions.

By geographical region of its customers, Vividthree saw its strongest revenue growth from Singapore, with revenue rising to S$1.1 million for the half-year, from S$182,311 a year ago.

The group said that it is cautiously optimistic about its recovery, especially in the post-production segment. Managing director of Vividthree Charles Yeo said that the group is also exploring opportunities in the fast-growing gaming sector to increase future revenue streams as well.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

"The group has started preliminary discussions with several parties, including GammaR, to capitalise on trends such as blockchain and non-fungible tokens (NFT) in the gaming sector. (In the) meantime, post-production will continue to be a key revenue contributor to the group," he said.

Shares of Vividthree closed unchanged at S$0.06 on Monday before results were announced on Monday. 

Amendment note: An earlier version of the headline for this article incorrectly stated that Vividthree's profit surged. The headline has been revised to reflect this.