Global Sources' profits up, revenue down

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New York--Global Sources Ltd., a b-to-b media company focused on overseas sourcing, reported Monday that its earnings for 2002 increased to $4.3 million from $800,000 in 2001. Profits increased despite an 8% decline in revenue to $87.5 million in 2002, from $95.3 million in 2001. The company said revenues were constricted by the struggling global economy, especially the severe recession in Hong Kong and Taiwan. Global Sources said it replaced lost revenue from Hong Kong and Taiwan by boosting revenue 10% in China, which is now the company’s largest market.
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