News this week: Yesterday, NASDAQ-listed Global
Sources released its financial results for the quarter ended 30th
June 2013. Revenues in the quarter were US$61 million, a year-on-year decrease
of 8.0%. Net profit attributable to shareholders was US$17 million in the
period, a jump of 73% from 2012.
Global Sources’ exhibitions business expanded to become its
largest business segment during the quarter. Revenues were up 9.1% to US$33
million, or 54% of total revenues. Online business accounted for 37% of total
revenues, which amounted to US$23 million or a drop of 25% from last year. Revenues
from print services were down 19% to US$3.5 million and accounted for 5.7% of
total revenues.
Global Sources also reported its half-year results for the
six months ended 30th June. Revenues in the period were US$93 million,
down 12% from the first half of 2012. Net profit attributable to shareholders grew
by 75% over last year to US$22 million. Diluted earnings per share in the first
half were US$0.62.
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