Global Sources released its financial results for the year ended 31st December 2016. Revenues from continuing operations in the year were US$157.7 million, down 7.8% compared to US$171.0 million recorded in 2015. IFRS net profit dropped 23% year-on-year to US$18.4 million from US$24.0 million in the previous year. However, adjusted EBITDA increased from US$30.8 million up to US$32.0 million in 2016.
More than 58% of Global Sources’ revenues were generated from the exhibitions business – amounting to US$92 million. That is essentially flat compared with the previous year. Online revenues declined by 18% year-on-year, down to U$52.8 million, which accounts for approximately 33% of total revenues. The print business generated revenues of US$5.6 million, down 4.0%. The remaining revenues of US$6.9 million were generated from “miscellaneous” business activities.
Source: Business Strategies Group Hong Kong – www.bsgasia.com