Friday, August 16, 2013

Global Sources’ profit up 73% in Q2

News this week: Yesterday, NASDAQ-listed Global Sources released its financial results for the quarter ended 30th June 2013. Revenues in the quarter were US$61 million, a year-on-year decrease of 8.0%. Net profit attributable to shareholders was US$17 million in the period, a jump of 73% from 2012.

Global Sources’ exhibitions business expanded to become its largest business segment during the quarter. Revenues were up 9.1% to US$33 million, or 54% of total revenues. Online business accounted for 37% of total revenues, which amounted to US$23 million or a drop of 25% from last year. Revenues from print services were down 19% to US$3.5 million and accounted for 5.7% of total revenues.

Global Sources also reported its half-year results for the six months ended 30th June. Revenues in the period were US$93 million, down 12% from the first half of 2012. Net profit attributable to shareholders grew by 75% over last year to US$22 million. Diluted earnings per share in the first half were US$0.62.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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