Global Sources Releases 4Q, Year-End Numbers
By Staff -- Gifts and Dec, 3/6/2007 7:55:00 AM
New York — Global Sources Ltd., a b-to-b media company and facilitator of two-way trade with greater China, reported its fourth quarter and year end results, as well as plans for 2007. Highlights for the fourth quarter of 2006 included a 62 percent increase in total revenue ($52.3 million, up from $32.3 million in the fourth quarter of 2005) and a 241 percent increase in exhibition revenues, from $6.3 million in 2005 to $21.6 million in 2006.
For the full year 2006, Global Sources reported revenues of $156.5 million, a 39 percent increase from $112.2 million in 2005. Said chairman and CEO Merle Hinrichs, “In 2006, our 39 percent growth was driven primarily by 50 percent revenue growth from China. Exhibitions were the key contributor, with total exhibitions revenue growing 195 percent. We sold nearly 13,000 booths at our China Sourcing Fairs in their first year at our new, larger venue in Hong Kong.”
In addition, Global Sources board of directors announced the launch of four new China Sourcing Trade Fairs for 2007. Underwear & Swimwear fairs will take place in April and October in Hong Kong; the Gift & Home Products fair will be held in June in Dubai; the Fashion Accessories fair will take place in Shanghai in December and Baby & Children’s Products fairs will be held in June and December, also in Shanghai.
“We enter 2007 with a more diversified revenue base and a larger number of customers,” said Hinrichs. “Our strategies include penetrating the markets for our existing products; launching new online marketplaces, magazines and China Sourcing Fairs and furthering our expansion into China’s domestic b-to-b market.”
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