CCID’s profit jumped 158% in Q1

Beijing, 4th May: Last week, Hong Kong-listed, mainland media group, CCID Consulting, released its quarterly results for the three months ended 31st March 2017. Revenues were US$3.9 million, representing a 7.8% increase compared with the same quarter last year. The company’s net profit grew by 158% over last year, amounting to US$160,000. Earnings per share in the three-month period were RMB 0.0016.

CCID’s management & strategic consultancy services generated revenues of US$1.7 million – accounting for 44% of the total revenues in the quarter. This is a decline of 21%. The decrease was attributed to the changing focus of the business.

CCID’s second largest business segment, information engineering supervision services, increased by 23% to US$1.4 million and accounted for 37% of total revenues. The company attributed the increase to a significant change in the core focus of CCID. The remaining revenues were generated from CCID’s market consultancy services – which rose 169%, reaching US$754,000. The company also hosted marketing events in the quarter.

Source: Hong Kong Stock Exchange announcement