LOS ANGELES, July 31 /PRNewswire-FirstCall/ -- Asia Global Holdings Corporation (BULLETIN BOARD: AAGH) has announced that management account results for the six month period ended June 30, 2008 showed outstanding growth in revenue and profit. Revenue from the Company's media and advertising business totaled over $4.3 million for an increase of over 40% compared to the same period last. Year-to-date gross profit increased more than 60% to over $2.6 million. Income for the six month period is expected to surpass $1 million versus a loss for the same period last year. These results again demonstrate sizable and sustainable growth and profitability in the Company's media and advertising segment.
The Company plans to continue its successful formula for the segment which offers media products to China based companies seeking to reach buyers in the global market. In the media and advertising group AAGH is also planning to launch a new online consumer shopping portal in China which offers consumers savings coupons and other benefits while also providing an effective channel for global marketers to reach consumers in China. In February China surpassed the US in total number of Internet users when the PRC online users count reached 220 million. At year end 2007 the number of China online users had grown 53% over the previous year according to the China Internet Network Information Center (CINIC).
AAGH wholly owned TV entertainment subsidiary Idea Asia Limited is also expanding rapidly in China exclusively representing a number of high quality international TV show formats for PRC distribution.
About Asia Global Holdings Corporation
Asia Global Holdings Corporation (BULLETIN BOARD: AAGH) has a strong focus on building business in China and other emerging regions and markets in Asia and Worldwide. The company's present subsidiaries participate in media & advertising, marketing services and TV entertainment. The Company has offices in the US, Hong Kong and China.
Asia Global Holdings Corporation Website: http://www.asiaglobalholdings.com/
Forward-looking statements in this document are not historical fact as 'forward-looking statements' as that term is defined in the Private Securities Litigation Reform of 1995. Forward-Looking statements are not guarantees of future performance. Our forward-looking statements are based on trends we anticipate in our industry and our good faith estimate on the effect on these trends of such factors as industry capacity, product demand, and product pricing. These statements are also subject to risks and uncertainties beyond our reasonable control that could cause actual business and results of operations, to differ materially from those reflected in our forward-looking statements. You may find all other information about Asia Global Holdings Corporation on the Securities Exchange Commission website, http://www.sec.gov/.
