Friday, August 22, 2014

CCID’s first half revenues down, but profits up

News this week: Earlier this month, Hong Kong-listed CCID Consulting reported its interim results for the six months ended 30th June 2014. Revenues were US$9.5 million – an 11% decrease year-on-year. However, the company recorded a net profit of US$573,000, up 17% compared with the same period in 2013. Earnings per share in the six-month period were RMB 0.0051.

More than 60% of CCID’s revenues were generated from its management & strategy consultancy services amounting to US$5.8 million. This is a 14% decrease compared with the first half of 2013. The company’s second largest business segment, information engineering supervision services generated US$2.6 million which accounted for 27% of CCID’s total revenues – that is a year-on-year decrease of 4.6%. The remaining revenues were generated from its market research services, which slid 6.6% versus the same period in 2013.

CCID also released its results for the quarter ended 30th June. Revenues in the quarter were US$5.0 million, down 19% over the same quarter in 2013. Net profit increased 28% compared with last year rising to US$462,000.

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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