News this week: Last week, Hong Kong-listed exhibition
organiser, Mega Expo, reported
its financial results for the year ended 30th June 2014. Revenues in
the year were US$27 million, a year-on-year decrease of 6.7%. Profit dropped
46% within the year, down to US$1.8 million. Diluted earnings per share in the
year were HK$0.0774 (US$0.001).
The majority of
Mega Expo’s revenues were generated from the exhibition organising business,
amounting to US$25 million. The remaining revenues were generated from
exhibition related services (US$1.3 million) and ancillary services (just US$10,000). In the reported financial year, revenue
generated from exhibition related services slipped 7.0%, while the ancillary
services declined by 24%.
Mega Expo
attributed the decrease in revenue to the postponement of the Las
Vegas Asia Expo 2013, which
was originally scheduled to take place in August 2013. The company’s management
also cited competition from other exhibition organisers contributed to the drop
in revenue.
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