News this week: Hong Kong-listed SEEC Media has reported
its financial results for the year ended 31st December 2013. The
company generated revenues of US$64 million – down 4.6% from 2012. Profit attributable
to owners of the company for the year dropped 46% to US$2.2 million. Dilute
earnings per share in 2013 were HK$0.01 (US$0.0013).
The majority of SEEC’s revenues were generated through
advertising agency income, which amounted to US$49 million or 77% of total
revenues. That is a 12% year-on-year decrease. The remaining revenues were
generated through advertising income from conferences & events (US$9.1
million) and sales of books & magazines (US$5.2 million). Advertising
income from conferences & events increased 37% year-on-year, while sales of
books & magazines was up 25%.
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