Sino Splendid Reduces Loss in First Half
Hong Kong-listed Sino Splendid (formerly China.com) has recently released its results for the six-month period ended 30th June 2018. Revenues in the first half were US$5.3 million, a year-on-year decrease of 2.2%. The company attributed the slight decline to weaker performance from its Travel Media Business and Financial Magazine Business. The company reduced its loss to US$1.9 million compared with a loss of US$22 million in the same period in 2017.
More than 72% of the total revenues were generated from its Travel Media business segment, amounting to US$3.9 million. This represents a decrease of 4.3% compared with last year’s figure. The Financial Magazine Business also dropped 3.0% generating revenues of US$1.4 million.
The company also reported its results for the quarter ended 30th June. Revenues in the quarter were US$3.4 million, an increase of 4.4% year-on-year. The company recorded a loss of just under US$800,000 compared with a massive loss of US$21 million in the second quarter of 2017.