Kingsmen’s first half revenue rose  20.6% to S$173.4 million with growth expected to continue as management maintains a  tight rein on cost management amid rising inflationary pressures

The pipeline of projects secured stands strong at S$367 million.

“We have a strong pipeline of secured contracts and expect a robust second half. We continue to see good demand for our solutions and services by the market, and will continue to be selective about the projects we undertake, focusing on costs, margins and clients who are moving forward to better position themselves in their business plans.” said Andrew Cheng, Group CEO of Kingsmen. 

Singapore — Kingsmen Creatives reported a net profit of S$1.3 million for the six months ended June 30, 2024  against o a net profit of S$0.6 million in the first half a year ago.

Exhibitions, Thematic & Attractions division registered a revenue of S$83.3 million in 1H 2024, an increase of S$17.9 million or 27.5% from S$65.4 million in 1H 2023. The division continued to seize opportunities for growth as clients actively seek to promote audience engagement through new shows, branded pop-ups and engagement initiatives.

The Retail & Corporate Interiors division recorded a revenue of S$75.2 million in 1H 2024, an increase of S$9.1 million or 13.8% compared to S$66.1 million in 1H 2023. The increase in revenue was mainly driven by good demand for customer experiences in the region, as clients continue to accelerate their business plans to refresh their boutiques or launch new concepts.

The Research & Design division achieved a revenue of S$8.3 million in 1H 2024, an increase of S$0.9 million or 11.9% from S$7.4 million in 1H 2023. The division’s focus on creating and delivering differentiated offerings for clients, blending sensory experiences with meaningful storytelling and technologies aligned with market demands.

The Experiential Marketing division registered a revenue of S$6.6 million in 1H 2024, an increase of S$1.7 million or 33.4% compared to S$4.9 million in 1H 2023. The division moved well to pursue opportunities from clients who pushed their activation events and conferences to engage audiences, and managed to capture and deliver multiple projects.

As for the outlook for the rest of 2024 and beyond Sharing the Group’s outlook for the rest of 2024 and beyond, Mr Cheng said:

“Despite the market environment instability and geopolitical uncertainties, clients remain optimistic about the prospects for their business and are taking steps to reposition their offerings, with a marked focus on experiential and uniqueness. Our ability to create and deliver differentiated customer experiences stands us in good stead to capitalize on these opportunities.  The exhibition and events business is expected to see new shows and increased participation, and clients looking to deliver more pop-ups, activation and engagement events for their customers.    The thematic attractions market remains buoyant with a good pipeline of projects coming on-stream across the region. While certain areas of the luxury retail sector are softening, our Retail & Corporate Interiors division continues to see good enquiries and projects from existing and new clients in the Southeast Asia markets.   Our Research & Design division will continue to be busy, fulfilling and meeting enquiries for new experiences and engagement concepts as we continue to enhance our creative capabilities.   The attractions industry is back, with good interest in face-to-face engagement platforms.”

As at 31 July 2024, the Group has secured contracts of S$367 million, of which S$290 million is expected to be recognized in2024