HomeChina Stock News Ctrip net profit rises 51 pct in Q2 on China’s booming travel market
Ctrip net profit rises 51 pct in Q2 on China’s booming travel market
Written by Administrator
Tuesday, 07 August 2007
BEIJING, Aug. 7 (InfoChina) -- China’s leading online travel agency Ctrip.com (Nasdaq: CTRP) posted a net profit of 88 million yuan in the second quarter of 2007 ended on June 30, up 44.26 percent year on year, and 35.38 percent quarter on quarter, thanks to the country’s booming travel industry.
Excluding share-based compensation charges, net income was 111 million yuan, up 51 percent year on year and 32.14 percent quarter on quarter.
Due to seasonal factors, revenue from package tour business dropped 20 percent from Q1 to 13 million yuan, yet the figure is still 49 percent higher than the same period of last year.
Other main businesses of Ctrip, such as air ticket booking and hotel reservation posted a quarter-on-quarter revenue growth of 24 percent and 28 percent, respectively.
Fan Min, company CEO attributed the business growth to expanded service offerings and geographic coverage, which has enabled the company to win more customers and bigger market share.
Ctrip predicted that net revenue will surge 35 percent year on year in 3Q, versus 52 percent recorded in 2Q. (Edited by Chen Dongyi,
)
China Stock News 
