News this week: Hong Kong-listed Sino Resources Group, formerly Kenfair International, has released its results for the year ended 31st March 2011. The company posted a turnover of US$11 million, down 5.7% from 2010’s figure. Losses attributed to shareholders this year were greatly reduced from a loss of US$108 million in 2010 to US$4.4 million.
All revenues were reported to have been generated from the company’s exhibitions business. In particular, more than 90% (US$9.8 million) came from the Mega Show Part 1 and Part 2 held in October 2010 in Hong Kong. The remaining revenues (US$828,000) were from Kenfair’s London Asia Expo in January 2011.
The management of Sino Resources was quoted in the announcement, “The performance of the Group’s exhibition business continued to improve for the year end 31st March 2011 despite of the strong competition. The Board believes that exhibition business will keep contributing stable revenues to the Group.”
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