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China CYTS Tours half-year net profit up 46%

(Xinhua)
Updated: 2009-07-30 11:42

China CYTS Tours Holding Co reported a 46.13 percent year-on-year growth in first-half net profit to 106.3 million yuan ($15.56 million), despite the impact of the global economic recession and the outbreak of A/H1N1 influenza.

Total revenue hit 2.42 billion yuan, up 21.44 percent from a year earlier. Earnings per share were 0.256 yuan, compared with the 0.175 yuan in the same period of last year, the company said Wednesday in a statement to the Shanghai Stock Exchange.

Related readings:  China's tourism revenue to rise 3% in 2009: report  CYTS profit rises slightly in 2008

Revenue from domestic tourism, which was shored up by promotions to head off the economic downturn, helped offset the decline of inbound and outbound tourists caused by the economic downturn and the flu outbreak.

Domestic tourism revenue rose 24 percent year-on-year, while that of inbound tourism was down 41 percent and outbound tourism revenue was down 8 percent, the company said.

The company give no detailed revenue figures from each business.

The Chinese tourism service provider saw its net profit rise 0.94 percent year-on-year to 309.34 million yuan in 2008.