NOVA Group’s revenues down 4.3%

Hong Kong, 25th September: Recently, Hong Kong-based exhibition and event organiser, NOVA Group (formerly known as Mega Expo), announced its financial results for the year ended 30th June 2020. The company reported total revenues of US$71 million, a decrease of 4.3% compared with last year. However, net profits in the year grew 34%, reaching US$18 million. Diluted earnings per share for the financial year were HK$0.093 (US$0.012).

More than 81% of its total revenues were generated from its cultural & entertainment business, amounting to US$58 million. The remaining revenues were generated from its financing business (US$7.5 million) and less than 10% (or just US$6.0 million) of NOVA’s revenues were from its exhibition & events business.