Global Sources anticipates reduced revenue
Hong Kong—Citing softness in the global economy and the political situation in the Middle East, Global Sources, a b-to-b media company with a focus in China, said it expects its revenue to be less than forecast for the first half of 2012. The company said its revenue will be in the range of $104 million to $106 million in the first half of the year, down from an earlier estimate of $108 million to $110 million.
“It has become clear that exporters are reacting to the slowdown in exports and the uncertainty in the global economy,” said Merle Hinrichs, executive chairman of Global Sources, in a statement. “In addition to the soft demand from the United States and the European Union, we have also been affected by the political situation in the Middle East, where we now expect significantly less exhibitors for our May shows in Dubai.”