Global Sources released its first quarter results for the period ended 31st March 2014. Revenues were US$34 million, up 10% compared with US$31 million recorded in the same quarter last year. However, IFRS net income in the period dropped from US$5.6 million last year to US$145,000 in the quarter.
The Hong Kong-based company generated revenues of US$21.3 million from its online business – 62% of total revenues. That is a drop of 15% from the US$25.0 million recorded last year. Revenues from print business accounted for 7.5% of total revenues at US$2.6 million, down 13% year-on-year from US$3.0 million recorded in the same quarter in 2013. While exhibitions revenues increased from US$1.5 million in the first quarter of last year, to US$8.9 million this year, and accounted for 26% of the company’s total revenues.
Source: Business Strategies Group – www.bsgasia.com