Following my previous post on whether Kingsmen Creatives is able to turn around, the company has staged a slight recovery in terms of revenue increase.
For 3Q2016, Kingsmen Creatives recorded a revenue of S$76.9 million in 3rd quarter 2016, an increase of S$0.9 million or 1.1% compared to S$76.0 million as compared to 3rd quarter 2015.
The three divisions Exhibitions and Thematic, Retail and Corporate Interiors and Research and Design reported an increase in revenue in 3Q2016 as compared with 3Q2015.
|Division||3Q2016 vs 3Q2015||9 months 2016 vs 9 months 2015|
|Exhibitions and Thematic||Revenue Increase||Revenue Increase|
|Retail and Corporate Interiors||Revenue Increase||Revenue Increase|
|Research and Design||Revenue Increase||Revenue Decrease|
|Alternative Marketing||Revenue Decrease||Revenue Increase|
Exhibitions and Thematic
The Exhibitions and Thematic division attributed the key contributors to the division’s revenue to major events and projects such as Art Stage Singapore 2016, Singapore Airshow 2016, TFWA Asia Pacific Exhibition & Conference 2016, Formula 1 Singapore Grand Prix, KidZania Singapore, Hailan Group Horse Cultural Experience Pavilion, Jakarta Aquarium, King Abdulaziz Center for World Culture and thematic projects in the region.
Retail and Corporate Interiors
The retail and corporate interiors attributed the revenue increase to key client accounts and brand names such as Tiffany & Co., Coach, Fendi, Ralph Lauren, Aldo, Uniqlo, DFS Venture, LS Travel Retail and Shilla Travel Retail.
Research and Design
Although the Research and Design division has reported an increase of 6.7% increase in revenue for 3Q2016 as compared with 3Q2015, the 9 months revenue from the Research and Design division remains depressed as revenue from this division is 3.3% lower as compared to 9 months 2015.
Revenue from Alternate Marketing division as down 17.7% comparing 3Q2016 and 3Q2015. Key revenue contributors to the revenue included events and projects from clients such as BMW, Central Provident Fund Board, Health Promotion Board, Jurong Health and StarHub.
According to the financial statement that was released for 3Q2016, Kingsmen Creatives is expected to be profitable for FY2016.
According to the statistics released by Singapore Tourism Board, the visitor arrivals grew by 10.3%. A recovery in sight for Singapore Tourism? More tourist arrivals means more events, more spending by big brands to design their stores right?
I have also read the detailed financials for kingsmen and good to know their balance sheet position is still strong (increase in cash balance and fall in current liabilities)