Audience Analytics Limited has announced its financial results for the six months and twelve months for the year ended 31 December 2022 (2H2022 and FY2022). FY2022 net profit jumped 35.2% year on year (y-o-y) to S$5.69 million on the back of a 43.1% increase in revenue.
Financial Highlights
| S$ (million)
except for per share item |
2H2022 | 2H2021 | y-o-y %
change |
FY2022 | FY2021 | y-o-y %
change |
| Revenue | 12.20 | 8.96 | 36.2% | 14.13 | 9.88 | 43.1% |
| Gross Profit | 8.36 | 6.41 | 30.4% | 9.10 | 6.51 | 39.7% |
| Gross Profit Margin | 68.5% | 71.6% | 64.4% | 66.0% | ||
| Net Profit | 5.62 | 4.66 | 20.7% | 5.69 | 4.21 | 35.2% |
| Net Profit Margin | 46.1% | 52.0% | 40.2% | 42.6% | ||
| Earnings per share (Singapore cents) | 3.34 | 2.77 | 20.6% | 3.38 | 2.50 | 35.2% |
| FY2022 | FY2021 | y-o-y % change | |
| Dividend per share (Singapore cents) | 1.80* | 1.26 | 42.9% |
| Payout ratio | 53.2% | 50.4% |
*The proposed dividend is subject to shareholders’ approval at the forthcoming annual general meeting of the Company.
The surge in revenue was mainly due to an increase in sales contributions from the Group’s Business Impact Assessment and Recognition segment which saw a significant increase in the number of participants.
The segment continued to be the main revenue driver for the Group, contributing to 94.4% of total revenue in FY2022. Revenue from the Group’s Exhibitions segment also rose following the easing of the COVID-19 pandemic restrictions.
On the back of the Group’s stellar performance in FY2022, the Group has proposed a first and final dividend of 1.80 Singapore cents, representing a dividend growth of 42.9% y-o-y and a payout ratio of 53.2% of the Group’s net profit for FY2022.
Chairman and managing director of Audience Analytics, Datuk William Ng, commented, “2022 was another year of strong growth for the Group, as we continued to experience increased traction in our Business Impact Assessment and Recognition segment.
“We resumed our physical events in Thailand, Singapore and Taiwan, and were delighted to see the overwhelmingly positive response from corporates and program participants. Despite the transition from virtual to physical events, our gross margins have remained relatively stable, thanks to the scalability of our business model and the strength of our brands.”
Audience Analytics generated a positive net operating cashflow of S$7.2 million in FY2022 as the Group’s net cash position swelled to S$17.3 million (or S$0.103/share) during the period.
| S$ (million) | FY2022 | FY2021 |
| Cashflows generated from operating activities | 7.19 | 3.73 |
| Cashflows (used in)/ generated from investing
activities |
(0.28) |
0.05 |
| Cashflows (used in)/ generated from financing
activities |
(2.17)* |
3.13* |
| Net increase in cash and cash equivalents | 4.74 | 6.91 |
| S$ (million) except for per share item | 31-Dec-22 | 31-Dec-21 |
| Cash and cash equivalents | 17.41 | 12.80 |
| Less borrowings** | (0.10) | (0.14) |
| Net cash and cash equivalents | 17.30 | 12.66 |
| Net cash/share*** (Singapore cents) | 10.28 | 7.53 |
* S$2.12 million and S$1.97 million were paid as dividends to shareholders in FY2022 and FY2021 respectively.
** Includes lease liabilities
***Net cash/share is computed based on 168.2 million shares as at 31 December 2022 and 31 December 2021.
Looking Ahead
Following the relaxation of pandemic restrictions across the globe, the Group’s key operating markets such as Singapore and Malaysia, are experiencing rapid recovery. In particular, Malaysia saw its GDP hit 8.7%1 – the highest level in 22 years. Alongside the reopening of Chinese borders, the Group is optimistic that a positive surge in business activity will be seen in Greater China and other regions.
“The healthy growth in participation in our business recognition programs (including from Fortune 500 companies) over the years and across markets is a testament of our established reputation in assessment programs. As economies re-open regionally, we find ourselves in a position to expand our business recognition portfolio into new markets and attract new participation from leading corporates,” Ng said.
“Over the past 20 years, we have accumulated a database of over 500,000 engaged business owners and decision makers. Many of these businesses have grown with us, across markets and throughout business cycles. This represents a significant opportunity for us to tap into our existing and upcoming brands. We are excited with the runway this represents.”
About Audience Analytics
Audience Analytics is a well-established business enabler with presence in Singapore, Cambodia, China, Hong Kong, India, Indonesia, Macau, Malaysia, the Philippines, South Korea, Sri Lanka, Taiwan, Thailand, United Arab Emirates and Vietnam.
With products ranging from printed publications and online portals to exhibitions and business award programs, Audience Analytics partners with business owners to grow their businesses. The Group’s portfolio includes SME Magazine, HR Asia, Capital Asia, Mega Career Fair, SME Solutions Expo, Malaysia Career & Training Fair, Post Graduate Education Fair, ITX Asia, SME 100 Award, Golden Bull Award, HR Asia Best Companies to Work for in Asia Award and CXP Best Customer Experience Award.
For more information, please visit https://audience.asia/.
