Friday, May 02, 2014

Netsun Q1 revenues down, profit up

News this week: Shenzhen-listed online sourcing platform, Zhejiang Netsun, released its financial results for the quarter ended 31st March 2014. The company reported revenues of US$6.9 million, down 17% from the same quarter of last year. The company did not comment on the decrease of revenue. However, net profit attributable to shareholders in the quarter grew 8.0% year-on-year, to US$1.7 million. Earnings per share in the period were RMB 0.07 (US$0.011).

The Hangzhou-based company generated revenues of US$33 million in the year of 2013, an increase of 24% from 2012. Net profit attributable to shareholders in the year was US$5.4 million, down 9.0% from the previous year. Earnings per share in 2013 were RMB 0.20 (US$0.033).

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