Kingsmen Creatives (5MZ) H1 2025 earnings summary

Executive summary

• H1 2025 revenue fell 6.5% YoY to S$162.1m, while gross profit rose 5.9% to S$39.9m and gross margin improved to 24.6% from 21.7%.

• Profit attributable to equity holders increased 27.5% to S$1.60m; profit after tax was S$1.42m, down 59.7%, and total comprehensive loss was S$0.38m.

Financial highlights

• Revenue declined S$11.2m to S$162.1m from S$173.4m; gross profit rose S$2.2m to S$39.9m, supported by higher-margin events and projects.

• Other income fell 53.8% to S$1.5m, as H1 2024 included a S$2.08m gain on disposal of assets held for sale.

• Employee benefits expense rose 3.8% to S$31.0m following salary adjustments; other expenses increased 26.3% to S$7.2m, including a S$1.3m net FX loss versus a net FX gain in H1 2024.

• Income tax expense increased 73.3% to S$0.86m; attributable EPS rose to 0.79 cents from 0.62 cents.

Outlook and guidance

• Secured contracts totalled S$345m as at 31 July 2025, with S$278m expected to be recognised during 2025.

• Management expects growth momentum to continue, citing the contract pipeline and opportunities in purpose-driven, creative and experience-led projects; prior prospect commentary was generally consistent with H1 results.

• Creative and design capabilities are to be strengthened, with newer technologies used to deliver client solutions.