News this week: Last week, Hong Kong-listed SEEC Media reported
its financial results for the first half of 2014. Revenues in the period were
US$24 million, a year-on-year 12% decrease. The company recorded a loss of
US$3.4 million in the six-month period, compared with a profit of US$75,000 in
the first half in 2013.
SEEC attributed the
decrease in revenue as well as net loss to the diversion
of advertising spending to the internet and mobile media sectors and away from print
media options.
The majority of
SEEC’s revenues were generated from by its ad services, amounting to US$23 million, which represents a drop of 9.1%
compared with the
previous year. The remaining revenues came from book and magazine sales which
declined 45% year-on-year.
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.
No comments:
Post a Comment