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Ctrip Q4 2008 Net Profit Down 10%

Ctrip, 2/09/09

Chinese online travel services provider Ctrip (Nasdaq: CTRP) has issued its earnings report for Q4 2008, with net revenues reaching RMB 396 mln (USD 58 mln), up 11% year-on-year. 2008 full-year net revenues rose to RMB 1.5 bln (USD 217 mln) an increase of 24% over the 2007 figure.

Net income for the quarter came to RMB 121 mln (USD 18 mln) down 10% YoY. Net income for fiscal year 2008 increased 11% to RMB 444 mln (USD 65 mln).

Hotel reservation revenues amounted to RMB 211 mln (USD 31 mln) for Q4 2008, representing a 7% increase YoY and a 13% increase QoQ. For the full year, hotel reservation revenues were RMB764 mln (USD 112 mln), a 13% increase from 2007. Hotel reservation revenues accounted for 48% of total revenues in 2008, compared to 53% in 2007.

Air ticket booking revenues for Q4 2008 were RMB 166 mln (USD 24 mln), up 7% YoY and stable compared to the previous quarter. For the full year, air ticket booking revenues were RMB 659 mln (USD 97 mln), a 31% increase from 2007. Air ticket booking revenues accounted for 42% of total revenues in 2008, compared to 39% in 2007.

Packaged-tour revenues for Q4 2008 were RMB 30 mln (USD 4 mln), up 38% YoY and 7% QoQ. For the full year, packaged tour revenues were RMB 109 mln (USD 16 mln), a 53% increase from 2007. Packaged tour revenues accounted for 7% of total revenues in 2008, compared to 6% in 2007.

For the first quarter of 2009, Ctrip expects year-on-year net revenue growth of approximately 5-10%.

To view Ctrip's full earnings report, please click here.

Keywords: Ctrip CTRP Internet online travel profit Q4 2008 revenue fiscal report

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