News this week: Hong Kong-listed SEEC Media reported record results since restructuring its business to focus on print media advertising agency services. SEEC generated revenues of US$45 million for the financial year ending 31st December 2010. That is an increase of 28% over 2009. SEEC posted a full-year net profit US$926,000, compared to a loss of US$5.9 million in 2009. Diluted earnings per share were HK$0.0033.
In 2010, the majority of SEEC’s revenues were generated through advertising income, which amounted to US$40 million - or 89% of total revenues. That is a 28% year-on-year increase. The remaining revenues (US$4.9 million) were generated through the sale of books and magazines, growing 25% over 2009.
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