News this week: Xinhua Finance Limited (XFL), a China-market focused financial information provider, has reported financial results for the quarter ended 31st 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.
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