UBM Asia’s Michael Duck promoted

News this week: UBM plc subsidiary, UBM Asia announced that Michael Duck will be promoted to executive vice-president of the company, effective from 1^st June 2011. The announcement pointed to Duck’s contributions to the growth and development of the company in Hong Kong, China, U.S. and India. Duck has extensive expertise from his time working in the maritime, beauty and leather/fashion industry verticals for UBM Asia. Duck will continue to be based at the regional headquarters of UBM Asia in Hong Kong and report to Jimé Essink, president and CEO of the company.

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XFL turns profitable in Q1

News this week: Xinhua Finance Limited (XFL), a China-market focused financial information provider, has reported financial results for the quarter ended 31^st March 2011. Net sales in the period were US$4.3 million, a 38% increase over the same period in the previous year. Net profit in the quarter was US$1.8 million, compared with a US$1.3 million loss last year. Basic earnings per share were US$1.22 in the quarter.

XFL’s management also released its forecast for the interim and full year 2011. In the first half, the company expects revenues to be US$11 million and to post a loss of US$5.1 million. For the full year 2011, the company is forecasting revenues to be US$24 million with a loss of US$8.6 million.

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.

CCID revenues up 36% in Q1

News this week: Hong Kong-listed, mainland media group, CCID Consulting announced its results for the first quarter of 2011. Revenues in the quarter were US$4.0 million, a 36% increase year-on-year. The company posted a net profit of US$131,000 in the period, which represents a 17% growth over the same period last year.

CCID’s largest business segment, its management and public relation consultancy services, doubled last year’s revenue to US$1.9 million and accounted for 47% of total revenues. Market research services jumped 131% to US$1.4 million – accounting for 34% of CCID’s revenues. The remaining revenues (US$755,000) were generated from the information and data management services which contracted 47% compared with the same period in 2010.

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.