3 days ago
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Pulse Investments Limited has reported a decline in revenue for the quarter ended September 2025, despite its models getting placements in high-profile events.
It underscores challenges for the lifestyle and entertainment group.
Unaudited financial statements show that the company’s core operations — model agency representation, multimedia production, marketing, and show production — have slowed, while rental income remained steady.
Revenue for the September quarter was $33.4 million, or three-quarters less than the $132.5 million recorded in the comparable period of 2024. Profit, however, fell by 22 per cent to $124.7 million from $161.5 million a year earlier.
Pulse earned its reputation through high-profile events and international model placements. The latest report shows Pulse model Zan Hyde walking Miami Fashion Week this year. Also, Pulse model Alicia Burke for Hung Vanngo Beauty campaign. Combined revenues from modelling, show production, sponsorships, and advertising have ebbed. This decline has eroded profitability, but its capital remains steady at $9.7 billion from $9.4 billion a year earlier.
The company started to dip in profit on the passing of co-founder Kingsley Cooper in 2024. Safia Cooper became co-managing director after Kingsley Cooper stepped down to assume the role of executive chairman, a decade ago. She shared leadership with Romae Gordon co-managing director until her resignation in April 2025.
According to the financial notes, operating revenue traditionally comprises income from television programming sales, market sponsorships, model representation, and show promotions. Yet the September quarter reflected negligible activity in these areas. A combination of shifting global fashion trends, reduced sponsorship budgets, and lingering regional economic uncertainty appears to have contributed to the downturn. The company is suffering from the absence of major shows and limited visibility of Pulse models in high-value campaigns.
Cash flow stood at $34.2 million, down from $43 million a year earlier. Despite these headwinds, management has doubled down on plans to develop Villa Ronai, the company’s signature lifestyle property. Recent pronouncements tout the transformation of the estate into a premier residential and hospitality hub aimed at attracting high-net-worth clients and lifestyle enthusiasts.
English (US) ·