Global Sources Q2 Revenue Growth Driven by Exhibitions
Global Sources reported total revenues in Q2 of US$68.5 million, up 17% year-on-year. Its exhibition revenues increased by 42% year-on-year to US$46.1 million, accounting for over 67% of Global Sources’ total revenues. The growth was attributed to the strong performance of its large electronics trade show in Hong Kong in April and the move of its SIMM machinery shows from 2014 Q1 to 2015 Q2.
“Recently, we completed three important actions to return value to our shareholders and to focus on our core business” commented Merle A. Hinrich, executive chairman of Global Sources. The three major moves include a cash tender offer to return up to US$50 million to shareholders, the sale of its eMedia Asia subsidiary and the sale of an investment property in Shenzhen.
Now classified as discontinued operation, the eMedia Asia business recorded revenues of US$2.5 Million, down from US$2.9 Million. Excluding that, Global Sources actually recorded a 19% revenue growth, up from US$55.5 million in the first half of 2014US$66 million in the first half of 2015.