UFI: 2024 as record year for the exhibition industry globally

/

Paris, 8th August: UFI, the Global Association of the Exhibition Industry, has recently released its latest bi-annual Global Exhibition Barometer report, showing the exhibition industry will achieve record revenues globally in 2024.

According to the report, the 2023 revenue is expected to grow by 20% year-on-year, while the 2024 figure is expected to grow by 17%.

Alibaba Group’s revenue up, but profit down

/

Hangzhou, 15th August: Last week, Alibaba Group, China’s largest e-commerce company, announced its results for the quarter ended 30th June 2024. The company recorded revenues of US$33 billion, an increase of 4% year-on-year. However, the company’s profits dropped 27% year-on-year, down to US$3.3 billion. Diluted earnings per share for the three-month period were RMB 1.24 (US$0.17).

In terms of its business segment, about 43% of Alibaba’s total revenues were generated from its Taobao & Tmall Group, amounting to US$16 billion. Revenues from Taobao & Tmall’s China commerce wholesale business, primarily generated through 1688.com, were US$819 million, an increase of 16% over last year. The second largest business segment, the Alibaba International Digital Commerce Group generated revenues of US$4.03 billion, or 11% of total revenues. Alibaba International Digital Commerce’s international commerce wholesale business, primarily traded on Alibaba.com, generated revenues of US$771 million, up 12% year-on-year.

BOL’s revenue and profit down in Q2

/

Bangkok, 8th August: Earlier this month, Business Online (BOL), an online information service provider in Thailand, reported its financial results for the quarter ended 30th June 2024. Revenues during the quarter were US$5.4 million, a year-on-year decrease of 8.6%. The company’s profits dropped by 4.9%, amounting at US$2.2 million.

BOL also announced its results for the six months ended 30th June. Revenues in the first half of 2024 were US$10 million, down 6.4% year-on-year. Net profits in the six-month period decreased by 4.6%, down to US$3.98 million. Diluted earnings per share during the first half of the year were Baht 0.18 (US$0.0049).

Meorient’s figures drop

/

Shanghai, 7th August: Shenzhen-listed exhibition organiser, Meorient, recently announced its financial results for the six months ended 30th June 2024. The group’s revenues in the first half of 2024 decreased by 26% year-on-year, down to US$36 million.

The company posted a net profit of US$5.6 million, a year-on-year decline of 47%. Diluted earnings per share in the six-month period were RMB 0.18 (US$0.025).

Quick takes

/

KLCC appoints new Director of Sales and Marketing

Kuala Lumpur Convention Centre (KLCC) announced to promote Tiffany Chung as new Director of Sales and Marketing. In the new role, Tiffany will be responsible for developing and implementing sales strategies, managing new product development, driving business development and revenue growth, overseeing marketing campaigns as well as talent development and management.

New Italian food show to host in Melbourne

National Media will organise a new show, Pizza Pasta & Italian Food Show, at Melbourne Convention & Exhibition Centre (MCEC), running from 18th to 20th May 2025. The new show will target for pizzerias, Italian-themed restaurants, and foodservice operators.

Theme days at HKTDC Food Expo

The Hong Kong Trade Development Council (HKTDC) organised Food Expo, from 15th to 19th August 2024, the Hong Kong Convention and Exhibition Centre (HKCEC). Together with Beauty & Wellness Expo, and Home Delights Expo, Food Expo PRO, and Hong Kong International Tea Fair, over 1,840 exhibitors from 30 countries and regions will feature at the fairs. Four theme days will be added in the fairs for the first time, featuring food from different regions of Mainland China, fine wine collections, and Japanese and Korean Express, as well as activities and products on health and wellness.

The Cosmetic Conference at RX’s in-cosmetics Asia

in-cosmetics Asia, organised by RX Global, will add The Cosmetic Conference, featuring technical, science-based talks from experts. The event will be hosted at the Bangkok Trade & Exhibition Centre (BITEC) in Bangkok, running from 5th to 6th November 2024.