Mega Expo Revenue and Profit Down in 2014
Hong Kong-listed exhibition organiser, Mega Expo, reported its financial results for the year ended 30th June 2014. Revenues in the year were US$27 million, a year-on-year decrease of 6.7%. Profit dropped 46% within the year, down to US$1.8 million. Diluted earnings per share in the year were HK$0.0774 (US$0.001).
The majority of Mega Expo’s revenues were generated from the exhibition organising business, amounting to US$25 million. The remaining revenues were generated from exhibition related services (US$1.3 million) and ancillary services (just US$10,000). In the reported financial year, revenue generated from exhibition related services slipped 7.0%, while the ancillary services declined by 24%.
Mega Expo attributed the decrease in revenue to the postponement of the Las Vegas Asia Expo 2013, which was originally scheduled to take place in August 2013. The company’s management also cited competition from other exhibition organisers contributed to the drop in revenue.