Friday, August 30, 2013

SEEC’s revenue and profit drop in first half

News this week: Earlier this week, Hong Kong-listed SEEC Media announced its interim results for the six months ended 30th June 2013. The company generated revenues of US$28 million, a decrease of 6.4% year-on-year. Net profit in the first half was just US$774, compared with US$2.4 million in 2012.

More than 90% of SEEC’s revenues were generated from its advertising business, which amounted to US$25 million. This represents a 9.0% decrease compared with the first half of 2012. The remaining revenues (US$2.5 million) were generated from the sales of books and magazines, a year-on-year increase of 31%.

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