News this week: Yesterday,
NASDAQ-listed Global Sources
released its year-end 2013 results. Revenues in the year were US$198 million, down 15% from the
previous year. However, net
profit in 2013 grew moderately by
1.6%, to US$33 million
using the IFRS accounting standard. Diluted earnings per share in the year were US$0.91.
More than 46% of
Global Sources’ revenues were generated from its online services (US$91 million) – a drop of 23% compared with 2012. Exhibitions revenues in the
year were down 3.5%, to US$86 million and that figure represents 43% of total revenues. Print services (US$13 million) continue to shrink accounting for just 6.7% of total revenues, a 23% year-on-year decrease.
Global Sources also provided guidance for the first half of 2014. The company’s management
forecasts revenues in the period to be between US$88 million and US$90 million. This represents a
decrease of 3% to 5% compared to the first half of 2013 which generated
revenues of US$92.7 million.
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