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NetDragon Websoft posts 44% profit leap

CHINA'S online games developer NetDragon Websoft yesterday posted a net quarter-on-quarter profit growth of 44 percent for the fourth quarter of last year.

Net profit was 73.2 million yuan (US$10.76 million) for the fourth quarter, representing an increase of 43.8 percent over the previous quarter.

Revenue was 136.5 million yuan, almost equal to the 136.6 million yuan for the third quarter of 2008.

"We have seen a severe downturn in the global economy and increasing market competition in the online gaming industry," said Liu Dejian, chairman and executive director of NetDragon. "But we have strengthened our game-development capabilities, enhanced the integrated operation model and enriched our product portfolio."

Netdragon's game portfolio consists of a range of massively multiplayer online role-playing games. With a diversified pipeline for 2009, NetDragon aims to capture the immense market opportunities both in the domestic and overseas market, Liu said.

NetDragon and Walt Disney announced last year they would launch an online role-playing game in China in the first half of this year.

NetDragon has licensed its online games overseas to countries such as Thailand and Vietnam. In 2008, it generated overseas revenue of 150 million yuan, up 24 percent from the year before.



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