Sino Splendid’s revenues rise 16% in first half

Hong Kong, 8th August: Last week, Hong Kong-listed Sino Splendid (formerly China.com) released its results for the six-month period ended 30th June 2019. Revenues in the first half were US$6.2 million, a year-on-year increase of 16%. The company reduced its loss to US$638,000, compared with a loss of US$1.9 million in the same period in 2018.

More than 75% of the total revenues were generated from its travel media business segment, amounting to US$4.7 million. This represents an increase of 20% over last year’s figure. The remaining revenues were generated from its financial magazine business (1.2 million) and its money lending business (US$293,000). The money lending business posted growth of 202%, while revenues from its financial magazine business fell by 9.4%.

The company also reported its results for the quarter ended 30th June. Revenues in the quarter declined by 11% year-on-year, down to US$3.0 million. The company recorded a loss of US$809,000 in the quarter, similar to the loss of US$800,000 in the second quarter of 2018.

 

Source: Sino Splendid announcement