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March 5, 2010

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Elong's Revenue Rises From Travel Spending

ELONG Inc, the online travel service provider, said revenue gained 18 percent in the fourth quarter last year to 106.9 million yuan (US$15.7 million) as travel spending recovered after the financial crisis.

Its net profit was 1 million yuan compared to a net loss of 8.2 million yuan in the year-earlier period as an economic recovery boosted travel spending, the Beijing-based company said in a statement yesterday.

Hotel commissions rose 7 percent from a year ago to 72.7 million yuan and fees from air tickets jumped 44 percent year on year to 27.7 million yuan.

Full-year revenue climbed 9 percent to 379.5 million yuan and net income was 19.9 million yuan against a net loss of 76.6 million yuan in 2008.


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