Global Sources profits soar 49%

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New York--Global Sources Ltd., a b-to-b information company that brings together exporters and importers around the world, Monday reported a first-quarter profit of $1.5 million, up 49% from a year earlier. The increase was achieved despite a drop in revenues to $21.6 million, from $21.8 million in the first quarter of 2002. Cash flow from operations increased to $3.9 million, up 34% over the same period last year. Despite the SARS epidemic, Global Sources’ China revenue grew by 16% in the quarter compared with the first quarter 2002.
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