Global Sources Posts 57 Percent Exhibition Revenue Third-quarter Loss

December 9, 2015

Global Sources, a leading business-to-business media group based in Hong Kong, has recently reported its financial results for the third quarter ending Sept. 30.

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 percent to US$15.9 million. Exhibition revenue plummeted by 57 percent to US$4.1 million in 2015.

The company’s print revenue posted a decline of approximately 18 percent to US$1.3 million.

Contributing to the decline, Global Sources completed the sale to UBM Asia of its joint venture, eMedia Asia, in the second quarter and also discontinued several overseas trade shows, which had previously been held in the third quarter of 2014.

“The third quarter revenue reflects our decisions to focus on our core business of cross border B2B trade and on our Hong Kong trade shows… Our strategy is to focus on the markets and products that offer us the greatest opportunities for growth,” said Merle A. Hinrich.

The company also lowered its second half of 2015 revenue guidance for investors. Revenue from continuing operations is forecast to be between US$83.0 million and US$84.0 million.

Revenues in the second half of 2014 were US$91.8 million. Management attributed this to expected weak performance of its online revenue.

Add new comment

Partner Voices
Overview: The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality. In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way. “We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.” Amenities: The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.  The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need. Gold Key Members The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events. OCCC Events: This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.  The Center’s top five events during their 2022-2023 fiscal year included:  AAU Jr. National Volleyball Championships 2023 200,000 Attendees $257 Million in Economic Impact MEGACON 2023 160,000 Attendees $205 Million in Economic Impact Open Championship Series 2023 69,500 Attendees $89 Million in Economic Impact Sunshine Classic 2023 42,000 Attendees $54 Million in Economic Impact Premiere Orlando 2023 42,000 Attendees $108 Million in Economic Impact