Sunday, November 14, 2010

News this week: HC International cuts loss

Beijing, 10th November: Hong Kong-listed HC International has released its results for the quarter ended 30th September. Revenues were US$15 million, an increase of 22% compared with the same quarter of 2009. Net profit was US$1.7 million, an eight fold increase compared with the previous year.

The company also released the results for the nine months ended 30th September. Revenues were US$40 million, an 18% increase over the first nine months of 2009. The company posted a net loss of US$292,000 compared to a loss of US$461,000 in the same period last year.

For the nine-month period, the Beijing-based B2B publisher noted that about 43% of its revenues (US$17 million) were generated from its online services business segment. The second largest business segment, namely market research and analysis, generated about 18% of its revenues (US$7 million).

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