But revenues were up 5% on the sale of tickets and exhibition space at the 2024 Singapore Yachting Festival

The Singapore-listed ONEº15 Marina brand owner and manager, SUTL Enterprise Ltd, has reported a 5% increase in revenue for the first half of its 2024 fiscal year ended 30 June 2024, according to a filing on the Singapore Stock Exchange.

Revenues in 1H totalled SG$15.1m compared to SG$14.4m in 1H FY2023, with the rise primarily due to an increase in sales of tickets and exhibition space for the Singapore Yachting Festival held in April. SUTL previously bought the rights to the Singapore Yachting Festival for three years, of which the 2024 event was the first.

Net income/profit, however, fell by 4% to SG$4.56m as against SG$4.76m a year ago. Earnings per share came in at SG$0.0517 from SG$0.0551 in FY2024 compared with FY2023.

In another move SUTL Enterprise filed a note with the Singapore Stock Exchange that it has deregistered its wholly-owned subsidiary in China, ONEº15 Events Management. ONEº15 Events has been dormant since September 2020, and the deregistration will not impact the integrated marina operator and developer’s financial position for the year ending 31 December 2024.

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