ENTERTAINMENT company NoonTalk Media’s net loss for the six months ended Dec 31, 2024, was down to S$0.9 million from the S$1.3 million loss in the previous corresponding period.
That puts its loss per share at S$0.0044 for the first half of FY2025, from S$0.0064 in the same period a year prior, according to its financials released on Friday (Feb 7).
Revenue for the period was up 33 per cent to S$3 million from S$2.3 million, mainly due to significant growth in the production business segment, noted the Catalist-listed company.
At the same time, cost of sales grew 26 per cent to S$2.8 million from S$2.2 million, which the company attributed to higher production costs.
“This increase was partially offset by reduced production staff costs resulting from a reduction in headcount during the financial period,” said NoonTalk.
As at Dec 31, 2024, the company has net current assets and net assets of S$639,573 and S$520,753, respectively, comprising cash and cash equivalents of S$951,592.
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The company noted in the statement that its directors believe that, with measures to tighten controls over expenses and better manage the its working capital, it will be able to adequately manage its cash flows and continue to operate as a going concern.
The media company noted that its current liabilities as at end-2024 stood at S$2 million, consisting of mainly contract liabilities, lease liability, trade and other payables and provision for restoration cost.
“Contract liabilities decreased by S$180,000 from S$327,000 as at Jun 30 to S$147,000 as at Dec 31, 2024.”
In October last year, NoonTalk Media, with Singaporean actor and television host Dasmond Koh as its chief executive, announced that it would implement various financing measures to ensure sufficient working capital to meet its liabilities up to mid-2025.
The measures included tightening controls over expenses, and entering into a S$2 million interest-free loan agreement with Koh.
Total liabilities at end-December stood at S$2.7 million, down from S$2.8 million as at end-June.
Shares of Noontalk Media closed Friday flat at S$0.086, before the release of the financials.
