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LEISURE & ENTERTAINMENT | Staff Reporter, Singapore

mm2 Asia's profits up 127.4% to $4.6m in Q2

Strong performance from its subsidiary UnUsUaL boosted revenue.

mm2 Asia Ltd's (mm2 Asia) profits went up by 127.4% YoY from $2.02m to $4.6m in Q2.

According to its financial statement, revenue soared by 45.4% to $31.40m. The increase was largely contributed by events production and concert promotion business by UnUsUaL Limited, a subsidiary corporation acquired in August 2016.

Cost of sales rose by 40.9% YoY to $16.8m.

"The increase in content spending by online content aggregators continues to signal the growing demand for good content produced by reliable producers," the firm said.

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