Press Room
Interim results for the six months ended 30 June 2009
Et-china, a leading travel services group in the fast growing region of South China, announces its unaudited interim results for the six months ended 30 June 2009.
Highlights:
| 6 months to 30 June 2009 |
% | 6 months to 30 June 2008 |
||
| RMB million | £* | RMB million | ||
| Revenue | 840.3 | 74.1 | 8.2 | 776.7 |
| Gross Profit | 97.2 | 8.6 | 14.1 | 85.2 |
| Operating Profit/(Loss) | (9.1) | (0.8) | 56 | (20.7) |
| Profit / (Loss) After tax and MI | (4.9) | (0.4) | 78.6 | (22.7) |
*figures in Sterling are for illustrative purposes only, all translated using the RMB exchange rate of 11.3 RMB = £1
- Net revenues up 8.2% to RMB 840 million (2008: RMB 776.7 million)
- Gross profit up 14.1% to RMB 97.2 million (2008: 85.2 million)
- Gross margin 11.6% (2008: 10.9%)
- Loss after tax reduced by 79% to RMB 4.9 million (2008 Loss: RMB 22.7)
Matthew Ng, President and Chief Executive Officer, commented:
"The Board is optimistic that the Group will see an improved performance in the second half and has great confidence that the outlook for the Chinese travel sector remains highly attractive. Looking to 2010 we expect to benefit from increased volumes of travel surrounding the Shanghai World Expo, which runs from May to October and the Guangzhou Asian Games in November 2010.
The relative stability of the domestic economy is helping to rebuild consumer confidence in China which will benefit the travel market significantly. The Group is committed to growing the business and driving improved revenue growth and profitability.
We are also very pleased to welcome Maria Ng to the Board. Maria has a wealth of experience in the Asia Pacific travel industry through her time with Kouni and we look forward to cultivating closer links with Kuoni in the coming period."
Contact details for enquiries
| Et-china.com International Holdings Limited | 020 7067 0700 |
| Matthew Ng, Chief Executive Officer | |
| Seymour Pierce, Nomad and Broker | 020 7107 8000 |
| Mark Percy | |
| Catherine Leftley | |
| Weber Shandwick Financial | 020 7067 0700 |
| Terry Garrett | |
| Stephanie Badjonat | |
| John Moriarty |