SINGAPORE, Aug. 29 -- The owner of Cathay Cineplexes, mm2 Asia, has reported a staggering group net loss of S$122.4 million (about US$95.4 million) for the financial year ended March 31, 2025, compared to a much smaller S$1.9 million loss a year earlier, according to a report bySingapore's CNA.

Annual revenue slipped 13.9 per cent to S$165.1 million, down from S$191.8 million in the previous financial year. Still, CNA reported that the company registered a rebound in the second half of FY2025, with revenue climbing 21 per cent to S$79.7 million, up from S$65.9 million in the same period a year ago.

However, the recovery in turnover was not enough to offset mounting costs. The group's net loss in the second half alone swelled to S$118.4 ...