CCID’s revenues up 28% in Q1

Beijing, 9th May: CCID Consulting, a Hong Kong-listed Chinese media group, has announced its results for the quarter ended 31st March 2018. Revenues in the period were US$3.8 million, representing a 28% increase compared with the same quarter in 2017. The company posted a net loss of US$373,000 in the quarter, compared with a loss of US$522,000 recorded last year.

CCID’s management & strategic consulting services generated revenues of US$2.5 million, accounting for 64% of its total revenues. This represents an increase of over 56%. The increase was attributed to two new projects that were completed in the quarter and generated revenues of over US$600,000.

CCID’s second largest business segment, its information engineering supervision services, grew 13% in the quarter reaching US$1.2 million. That business now accounts for 31% of CCID’s total revenues. The remaining revenues were generated from its market consulting services (US$168,000) – which is a year-on-year decrease of 52%. The company attributed the weak result to a decline in the company’s event organising business.

Source: Hong Kong Stock Exchange announcement