The unit, which comprises a range of women's titles, is looking to use
the funds to resurrect plans to launch a teen title Jessica Girl. It
shelved plans for Jessica Girl's launch after the September 11 terrorist
attacks on the US, blaming the poor advertising market.
China, as it prepares to open its media sector, is another expansion
target. Jessica Publications chief executive Jessica Ng said the company
planned to license its titles to publishers in the mainland by
mid-2003.
Ng said expansion of its two titles - Jessica and Lisa - into other Chinese-speaking markets would help broaden the group's revenue sources and leave it less dependent on Hong Kong.
"Although the Hong Kong edition is available in Taiwan and we have circulation in China, we still want to expand into these markets and publish the China version of Jessica,
Ng said. "The average monthly circulation of Jessica in Hong Kong is 67,000 for July to September 2001. I believe there is room to boost circulation."
Ng said the company achieved a net profit of HK$4.7 million for the six months to June 30 last year.
