|
Chinese online agent turns red ink black
|
 |
 |
|
|
|
|
|
Hong Kong (2010-03-04)
CHINESE online travel agent eLong booked an operating income of RMB 11.2 million (US$1.68 million) last year, reversing the previous year’s RMB 41.7 million loss.
The reversal of its fortunes was achieved as net revenue rose 18 per cent to RMB 100.9 million for the fourth quarter, which brought full year revenue to RMB 357.9 million, up nine per cent year-on-year.
The operator’s numbers, however, were dwarfed by rival Ctrip, which earlier reported that it had booked a fourth quarter net revenue gain of 43 per cent to RMB 566 million, bringing its full year results to a staggering RMB 2 billion for 2009, an increase of 34 per cent year-on-year.
The sharp gains for both online agents underscore the growing role of Internet transactions for travel purchases in China.
ELong expects last year’s growth momentum to continue, forecasting an increase of between 10 and 20 per cent in net revenue for the first quarter of this year to be in the range of RMB 86 million and RMB 93 million compared with the same period last year.
|
