Substantial increase in trading over ‘Chinese New Year’ but it’s profitability & cash that wor
Et-china.com International Holdings Limited, the South China based travel services group issued an update on trading performance for the 7 day Chinese New Year period.
There was a ‘substantial increase in sales during the period’ and thankfully the Chinese travel market has improved. GZL, the tour operating business, produced a particularly good performance with revenue of RMB166.4m during the 7 day golden week, a 49% increase over the comparable holiday period of 2008 and equal to nearly 10% of GZL’s total revenue for the whole of the last year. The ETC trading subsidiary which focuses on the frequent independent traveller achieved a tenfold increase in the number of tickets issued via the internet which lead to an eightfold increase in revenues to RMB206,231. The top…