Mega Expo Records Large Loss
Mega Expo, formerly known as Kenfair, a Hong Kong based exhibition organiser, reported its interim results for the six months ended on 31st December 2016. The company reported revenues of US$12 million, down by 40% year-on-year. Mega Expo posted a net loss of US$1.5 million in the six-month period, compared with a loss of US$2.2 million in the same period of the previous year.
The vast majority of its revenue is generated by its exhibition organising business, which fell by 40%. Revenues from exhibition-related services dropped by 97%, down to just US$9,000.
Mega Expo attributed the drop in revenue to keen competition among exhibition organisers and the uncertain global economic atmosphere. The company has also ceased the publication of the show magazines in the period and therefore, generated no relevant revenue from ancillary services.