Friday, November 14, 2014
News this week: Earlier this week, Hong Kong-listed HC International reported its results for the nine months ended 30th September 2014. Revenues in the period were US$118 million, a year-on-year growth of 21%. Profit attributable to equity holders in the nine-month period was US$26 million, a jump of 63% over the first nine months of 2013. The management attributed the growth in profit to the improvement in online revenues and better control of the company’s costs and expenses. Diluted earnings per share in the first nine months were RMB 0.2329 (US$0.0379).
The company’s largest business segment, online services, generated 85% of total revenues (US$100 million) – up 24% over the first nine months in 2013. The seminars & other services segment generated revenues of US$14 million or about 12% of the company’s overall – up 9% year-on-year. The remaining 3% of revenues were generated from the trade catalogues & yellow page directories business segment, and were down 15% compared with last year.
HC International also released its results for the quarter ended 30th September. Revenues in the quarter were US$42 million, up 6% over the same quarter of 2013. The company posted a jump of 92% in profit attributable to equity holders during the quarter, which amounted to US$15 million.