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Top Chinese travel agency's profits up 67 pct

04-26-2012 15:31 BJT

BEIJING, April 26 (Xinhua) -- China International Travel Service Ltd., the country's largest travel agency, said Thursday its net profits jumped 67.18% year-on-year to 684.9 million yuan (108.83 million U.S. dollars) in 2011.

The company's revenues rose 32.11% to 12.69 billion yuan. Earnings per share increased 66.95 percent from one year earlier to 0.78 yuan, according to the company's annual report filed to the Shanghai Stock Exchange.

The company attributed its profit surge to booming travel demand and the launch of new travel routes, which have catered to a greater variety of consumers.

Despite a gloomy global economic outlook, the company said it will increase its rate of expansion in overseas markets, adding that it expects fiercer competition among domestic travel agencies this year.

The company's shares dipped 3% to 28.14 yuan as of 1:30 p.m. Thursday.

Editor:Wang Lingfei |Source: Xinhua

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