News this week: Hong Kong-listed, Beijing-based, HC International reported its results for the first half of 2011 earlier this week. Revenues for the six months ended 30th June were US$30 million, up 34% over the first half of 2010. HC posted a net profit of US$440,000 in the period compared with a net loss of US$2.0 million last year.
More than 62% of HC’s revenues (US$19 million) were generated from its online services, which jumped 73% compared with the 2010 figure. The trade catalogues and yellow page directories business generated 20% of revenues or US$5.9 million, a year-on-year decrease of 12%.
HC also announced its results for the quarter ended 30th June. Revenues in the quarter were US$17 million – an increase of 30% compared with the same period of last year. The company recorded a net profit of US$754,000 in the quarter – compared with a loss of US$350,000 in 2010.
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