Friday, November 19, 2010

News this week: Info Comm revenues increase

Info Comm first half revenue jump 82%

Hong Kong, 11th November: Hong Kong-listed Info Communication (Info Comm) has announced its interim results for the six months ended 30th September. Revenues were US$1.96 million, a jump of 82% over the first half of 2009. Exhibition businesss generated 61% of revenues at US$1.2 million, a year-on-year 22% increase.

Info Comm recorded a net loss of US$3.2 million compared to a loss of US$2.3 million in the same period last year. Management attributed this loss to weak performance in its exhibition businesses and the costs on share-based payments for the granting of options.

Info Comm announced this week, the possible disposal of its exhibition organisation business to a connected person. Terms and conditions have yet been confirmed.

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