Friday, March 28, 2014

SEEC’s revenue and profit down in 2013

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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