UnUsUaL has reported a record set of revenue and profit for the 1HFY2024 ended Sept 30.
The results were due to the success in the group’s move to procure and execute the “right projects”, which were very well received by concert goers in Singapore, and within the region.
1HFY2024 earnings surged by around 1,218.1% - or 14x – y-o-y to $14.1 million from $1.1 million in the corresponding period the year before.
Revenue surged by 954.0% y-o-y to $66.4 million.
Gross profit spiked by 824.2% y-o-y to $22.5 million.
Other income also surged, particularly in interest income, which was up by 15.6x to $22.9 million from $1.5 million in the corresponding period the year before.
“We are extremely pleased to share our strong 1HFY2024 results. This fantastic outcome is the result of our team’s careful planning, curation, negotiation and of course, excellent execution. We were not overawed by the avalanche of strong competitive concerts during the post pandemic period. We stayed focused on what we know best and I can say, we have done very well,” says Leslie Ong, CEO of UnUsUaL.
“With this first half performance, we have regained our footing and I am confident moving forward with the work of organising more compelling live concerts in our usual markets, that is, Singapore, Kuala Lumpur, Sydney and Melbourne. Other than these cities, we are also considering promoting concerts in other East Asian cities. I wish to take this opportunity to thank our staff and partners for their contribution to this set of good results, and I also wish to thank all shareholders for their patience and belief in us,” he adds.
As at Sept 30, cash and cash equivalents stood at $16.7 million.
Shares in UnUsUaL closed 0.1 cent lower or 0.52% down at 19 cents on Nov 9.
