Ctrip’s Q2 net up 5.9% at US$23m
Print Edition
NASDAQ-LISTED Ctrip.com International Ltd said yesterday that its second-quarter net profit rose 5.9 percent year on year to 143 million yuan (US$23 million), marking the company’s return to positive territory after it booked a 126 million yuan loss in the previous three months.
The gains came on the back of a 45 percent year-on-year rise in revenue for the quarter to 2.7 billion yuan, which was in line with forecasts, the online tourism services provider said.
“For the first time in the company’s history, both hotel bookings and ticket sales contributed more than 1 billion yuan in a single quarter,” Chairman James Liang said in a statement.
Revenue from hotel bookings rose 47 percent from last year to 1.1 billion yuan, while ticket sales increased 45 percent to 1.1 billion, the company said.
Despite the huge scale of China’s tourism market, even major players struggle to remain profitable, analysts have said. Ctrip said it was the only one of the market leaders to book a profit in the second quarter.
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