Global Sources, a leading business-to-business media group based in Hong Kong, has recently reported its financial results for the third quarter ended 30th September 2015. Revenue from continuing operations was US$23.5 million, down from US$31.7 million in 2014. The company also posted an IFRS net loss of US$4.6 million. In the same quarter last year, Global Sources recorded a net profit of US$1.9 million.

The decline in revenue hit all of Global Sources core businesses. Online revenue fell by 15% to US$15.9 million. Exhibition revenue plummeted by 57% to US$4.1 million in 2015. The company’s print revenue posted a decline of approximately 18% to US$1.3 million.

The company also lowered its second half of 2015 revenue guidance for investors. Revenue from continuing operations is forecast to be between $83.0 million and $84.0 million. Revenues in the second half of 2014 were $91.8 million. Management attributed this to expected weak performance of its online revenue.

Source: Business Strategies Group Hong Kong  –  www.bsgasia.com