Phoenix New Media Hong Kong shares | Economic Daily Group (00423) announced its results for the six months ended September 30, 2021, with a profit attributable to the company's shareholders of HK $23.158 million, a decrease of about 19% over the same period last year; earnings per share of HK5.37 cents, with an interim dividend of HK3 cents per share.
During the period, revenue was about HK $520 million, an increase of about 11% over the same period last year.
Advertising revenue rose 21% year-on-year to about HK $281 million, mainly due to a significant increase in digital advertising revenue and a slight increase in print advertising revenue compared with the same period last year, the announcement said. With the global economic recovery and the stability of the local epidemic, consumer and business confidence has turned optimistic. The improvement in the labour market, coupled with the promotion of the consumption voucher scheme, has helped to stimulate local consumption and marketing activities.
Service revenue rose 4 per cent year-on-year to about HK $208 million, mainly due to the closure of a competitor in the printing business and an increase in the market share of print publications services in the group's printing business. Revenue from financial news agencies, information and software services remained stable during the period under review.