CCID’s profit grows 37% in first nine months

Beijing, 9th November: CCID Consulting, an IT research and information service provider in China, announced its financial results for the nine months ended 30th September 2017. The company reported revenues of US$14 million, a 9.3% year-on-year increase. Net profit in the first nine months of the year grew 37%, reaching US$2.0 million. Earnings per share in the period were RMB 0.0131 (US$0.0020).

More than half of CCID’s revenues were generated from its management & strategy consultancy services, amounting at US$7.6 million. This represents a year-on-year decline of 3.3%. Its second largest business segment, information engineering supervision services, generated revenues of US$5.1 million and accounted for 36% of total revenues. That represents a 21% increase over last year’s figure. Its remaining revenues were generated from its market consultancy services (US$1.7 million), up 51% compared with the same period in 2016.

The company also released its results for the quarter ended 30th September. Revenues in the quarter were US$4.4 million, flat compared with last year. Profits in the quarter were US$681,000, the same compared with the third quarter of 2016.

Source: Hong Kong Stock Exchange announcement