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The rise in Chinese travelers venturing away from home helped Ctrip.com International Ltd report a 50 percent rise of net incomes in the fourth quarter over the same period one year earlier.
Ctrip, the top Chinese travel provider, said yesterday its revenues for the quarter were US$19.2 million, 57 percent higher than the fourth quarter of 2004, while profits reached US$7.8 million. Diluted earnings per share were 47 US cents.
The American depository shares of Shanghai-based Ctrip closed at US$67.00, rising 3.57 percent, in after-hours trading.
"We saw healthy growth across all of our service sectors, reflecting the continued momentum of our business," said James Liang, Ctrip chairman.
Ctrip mainly offers hotel and airline ticket-booking services and packages. The fourth quarter is usually a strong quarter for business travelers, as many travel for the holidays.
The company's annual revenues last year were US$64.6 million, compared to US$40 million in 2004.
Last year, 1.2 billion Chinese traveled, 10 percent more than in 2004, according to the National Tourism Administration,
However, the firm believes its overall 2006 performance will be better, predicting a 35 percent growth over 2005.
(China Daily February 24, 2006)
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