Hong Kong, 27th September: Last week, Hong Kong-based exhibition and event organiser, NOVA Group (formerly known as Mega Expo), announced its financial results for the year ended 30th June 2019. The company reported total revenues of US$74 million, representing an increase of 127% over the previous year. The company posted a net profit of US$14 million, representing a year-on-year increase of 18%.
The increase in revenues was driven by strong performances in its “promotion & consulting services” and its “contracting services & entertainment equipment solutions.”
According to the NOVA Group about 48% of the total revenues were generated from its “promotion & consulting services” amounting to US$35 million and up from the figure in the previous year of just US$4.8 million. The next largest business segment was its “contracting services & entertainment equipment solutions” posting revenues of US$25 million which accounted for 34% of the total.
The remaining revenues were generated from its “brand management & related services” (US$4.5 million), its “organisation of exhibitions, events planning & related services” (US$4.4 million) and financing income (US$4.1 million).