Audience Analytics, which organizes events and awards, has announced earnings of $62,287 for 1HFY2022 ended June 30, reversing from a loss of $452,496 recorded for 1HFY2021.
Revenue, in the same period, increased by 110.4% y-o-y to $1.93 million, due to a resumption in the number of events organised.
The company enjoyed a big jump in its gross margins from 11.1% in 1H2021 to 38.4% in 1H2022.
“Despite a seasonally weaker first half for the group with most events being held in the latter half of the year, the group has achieved a feat of being profitable,” says chairman and managing director William Ng (picture).
“The jump in revenue and the turnaround to profitability is a testament to the scalability of the group’s business, and the growing presence of the Group in the region,” he adds.
Ng says the company is in an “excellent position” to tap the rebound of economies across the regions it operates in.
“The steady growth in participation in our award programs over the years and across markets is a testament of the rising reputation of our assessment programs,” he says.
“Looking ahead, the group intends to enter new markets and ramp up cross-selling efforts to identify new revenue streams and expand our portfolio,” adds Ng.
Audience Analytics closed at 22 cents on Aug 3, down 15.69% for the day and down 23.21% year to date.
