Kingsmen Creatives have just released their 1Q2017 results.
- Kingsmen Creatives recorded a revenue of S$66.2 million in first quarter of 2017 which is an increase of S$4.7 million or 7.7% compared to S$61.5 million in 1Q 2016.
- Gross profit in 1Q 2017 increased by S$2.2 million or 16.2% to S$15.6 million compared to S$13.4 million in 1Q 2016. The increase was a result of higher revenue and gross profit margin recorded. Gross profit margin was higher at 23.5% in 1Q 2017 compared to 21.8% in 1Q 2016.
- Cash and cash equivalent decreased to S$58.5 million. In my previous post, I mentioned they have cash and cash equivalent of S$74.6 million. I feel that there is nothing to worry about as Kingsmen Creatives have an increase in working capital requirements of S$12.6 million and they are still cash rich.
How Did the Business Fare?
- The Exhibitions & Thematic division registered a revenue of S$25.2 million in 1Q 2017, a decrease of S$3.2 million or 11.3% from S$28.4 million in 1Q 2016.
- The Retail & Corporate Interiors division recorded a revenue of S$35.2 million in 1Q 2017, an increase of S$6.1 million or 20.9% from S$29.1 million in 1Q 2016.
- The Research & Design division achieved a revenue of S$2.9 million in 1Q 2017, an increase of S$0.3 million or 13.6% compared to S$2.6 million in 1Q 2016.
- The Alternative Marketing division registered a revenue of S$3.0 million in 1Q 2017, an increase of S$1.6 million or 111.6% compared to S$1.4 million in 1Q 2016.
Kingsmen Creatives Exhibitions & Thematic division reported a decrease in revenue of 11.3%. This can probably mean that the global tourism and business travels seem to still be depressed as there are less events being held and projects being organized.
The retail and luxury industry seems to be picking up as Kingsmen Creatives Retail and Corporate Interiors segment reported an increase of revenue of 20.9%. This means that there is more spending from clients that come from affordable luxury retail, fast fashion retail, travel retail, corporate interior and food and beverage.