Saturday, August 25, 2012

Made-in-China.com revenues up 9%, profits down 21%


News this week: Shenzhen-listed Focus Technology, operator of Made-in-China.com, released its results for the six months ended 30th June 2012. Revenues were US$35 million, up 9.1% year-on-year. Focus Technology’s net income in the first half, however, was down 21% from same period last year at US$9.2 million. Diluted earnings per share during the period were RMB 0.50 (US$0.0787).

The majority of Focus Technology’s revenues were generated through the operation of its online sourcing platform Made-in-China.com. Membership fees generated US$17 million or 49% of total revenues, while its “Audited Supplier Services” accounted for US$8.7 million (or 25% of total revenues) – a jump of 159% over the same period in 2011.

As of 30th June 2012, Made-in-China.com had a total of 13,589 registered members, of which the vast majority (12,741) were registered on the company’s flagship English-language site. The remaining 848 were registered on its Chinese site.

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.


Busan restructures CVB


News this week: The Busan Convention and Visitors Bureau (CVB) will become part of the Busan Tourism Organization (a temporary working name) starting on 1st November this year. The new umbrella tourism body will have overall responsibility for encouraging conventions, incentives and leisure groups to visit Busan.

According to the bureau, the MICE industry is one of the key drivers of economic growth for the city. The Busan Tourism Organization will oversee all activities related to tourism – including marketing and business development.

Deputy director of the Busan Metropolitan City Exhibition and Convention Division, Ha Young Ho, commented that Busan will branch out independently from the Korea Tourism Organization (KTO) and participate with its own pavilion at international tradeshows such as the next edition of IT&CM India.

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.

ICCA urges more MICE development in India


News this week: The International Congress and Convention Association (ICCA) has highlighted the need for increased investment in India’s MICE infrastructure – in order to accelerate the development of the industry there.

According to Martin Sirk, CEO of ICCA, India’s economic status offers strong potential to attract international MICE events, but he emphasised the need for a “more cohesive” working relationship between public and private sector players. He also highlighted the need for Indians to treat the MICE industry as a knowledge industry.

Speaking at the MICE travel event IT&CM India, Sirk was quoted, “India is certainly on the minds of MICE organisers because global companies are interested in doing business in India. But one has to understand that MICE is not just a tourism business. Business considerations take a front seat when a company plans its event in a particular destination. India needs better and modern convention venues in major cities such as Delhi and Mumbai.”

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.