Live performance operator UnUsUaL has narrowed its net loss for FY2022 as the easing of pandemic measures helped lift business activities.
For the year ended March 2022, the company recorded a net loss of $4.2 million, versus a net loss of $9.3 million in the preceding FY2021. Revenue in the same period was up 176.9% y-o-y to $3.6 million.
The company is seeing better prospects ahead with most restrictions lifted with effect from April 26.
For one, the venues are now allowed to house the maximum permitted capacity as safe distancing measures are no longer required.
“This change will allow the Group to continue with our promotion business at the same scale as before the pandemic,” says UnUsUal.
On May 28, the company will be presenting a large-scale, indoor “live” concert, A-Lin – A Link with passengers world tour at the Singapore Indoor Stadium.
Further events are planned for the second half of 2022.
Various events are being planned before the end of current FY2022 across the region, including Kuala Lumpur, Hong Kong and Australia.
“Barring any unforeseen circumstances, the group can expect strong business activities recovery in the next twelve months,” the company states.
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CEO Leslie Ong (photo) calls the past two years a “humbling experience” but that company is now eager to pick up where it left.
“Putting that into perspective, we learned to stay nimble, focus and most importantly, we continue to maintain close contact with our partners despite all the negatives. We are now ready. Ready to build on what we have curated during the lull period,” says Ong.
UnUsUal shares last traded at 14 cens, up 12.5% year to date.
