Friday, August 12, 2011

HC International posts net profit

News this week: Hong Kong-listed, Beijing-based, HC International reported its results for the first half of 2011 earlier this week. Revenues for the six months ended 30th June were US$30 million, up 34% over the first half of 2010. HC posted a net profit of US$440,000 in the period compared with a net loss of US$2.0 million last year.

More than 62% of HC’s revenues (US$19 million) were generated from its online services, which jumped 73% compared with the 2010 figure. The trade catalogues and yellow page directories business generated 20% of revenues or US$5.9 million, a year-on-year decrease of 12%.

HC also announced its results for the quarter ended 30th June. Revenues in the quarter were US$17 million – an increase of 30% compared with the same period of last year. The company recorded a net profit of US$754,000 in the quarter – compared with a loss of US$350,000 in 2010.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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