NASDAQ-listed Global Sources has reported results for the quarter ended 30th June 2011. Revenues in the second quarter were US$66.5 million, up 13% compared with US$58.6 in the same period last year. Net profit attributable to shareholders was US$10.1 million, jumped 24% over 2010’s US$8.2 million.  The online services generated US$29.9 million in the second quarter, a year-on-year increase of 32% over last year’s US$22.6 million. Exhibitions grew 6.3% to US$29.1 million from US$27.4 million in the second quarter of 2010.

Separately, Global Sources also announced changes in management this week. Former CEO of the company, Merle A. Hinrichs, has taken up the role of executive chairman of the board, while former deputy CEO, Spenser Au, assumes the position of CEO with effect on 18th August 2011.

Source: Business Strategies Group, Hong Kong