Pacific Online H1 2010 Profit Up 64% YoY
Hong Kong Exchange, 8/23/10
Chinese vertical portal operator Pacific Online (0543.HK) has announced its unaudited financial results for H1 2010, with revenue up 43% YoY to reach RMB 202.6 mln compared to RMB 141.8 mln for the six months ended June 30, 2009.
Net profit increased by 64% from RMB 44.4 mln in H1 2009 to RMB 72.9 mln in H1 2010.
Revenue for PConline, Pacific Online's information technology and consumer electronics portal, increased by 20% from RMB 75.2 mln in H1 2009 to RMB 90.0 mln in H1 2010. The increase in revenue from PConline was due to higher advertising spending from IT manufacturers.
Revenue for PCauto, Pacific Online's automobile portal, increased by 63% from RMB 57.2 mln in H1 2009 to RMB 93.1 mln in H1 2010. The increase in revenue from PCauto was due to the strong growth of the automobile industry in China.
Revenue for Pacific Online's other operations, such as games, lady, baby portals and others, increased by 108%. Revenues from these other segments are increasing significantly as consumer goods companies start to experiment with and direct a greater share of their advertising budgets to internet advertising.
To view Pacific Online's full 2009 annual report, please click here.
Keywords: Internet portal profit revenue Pacific Online PCAuto PConline 0543.HK H1 2010 online advertising fiscal report
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