Friday, August 15, 2014

HC International’s profit jumps 96% in first half

News this week: Earlier this week, Hong Kong-listed HC International released its results for the first half of 2014. Revenues for the six months ended 30th June were US$75 million, up 30% over the first half of last year. HC posted a profit attributable to equity holders of US$17 million in the period, jumped 96% from 2013. Dilute earnings per share in the period were RMB 0.1474 (US$0.024).

About 88% of HC’s revenues were generated from its online services, amounting to US$66 million. That represents 31% growth compared with the first half of 2013. The remaining revenues were from HC’s seminars & other services (US$6.4 million), and trade catalogues & yellow page directories business (US$2.6 million). Revenues from seminars & other services increased 49%, while the trade catalogues & yellow page directories business was down 14%.

HC also announced its results for the quarter ended 30th June. Revenues in the quarter were US$39 million, a year-on-year increase of 23%. The company recorded a profit attributable to equity holders of the company of US$9.7 million in the quarter - up 88% compared with 2013.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

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