ET-China.com
The Group is primarily engaged in serving the corporate and leisure markets in South China
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Et-china.com reports "substantial" boost in trading during Chinese New Year
Travel services group, Et-china.com, reported a "substantial increase" in sales during the Chinese New Year. The southern china focused group said it had witnessed a "good performance" at its tour operating business, which recorded a 49.9% increase in revenues compared to the same holiday period in 2008. Total revenues were RMB166.4 million, equal to 10% of total revenue in all of 2008. Et-china.com's tour operating business, GZL, is one of the largest package holiday providers in South China, with 160 stores and one 24-hour call centre.
Et-China.com also recorded good growth over the period, with 115% increase in total tickets issued and a 72% increase in transaction value to RMB15.6 million.
"More significantly, ETC achieved a tenfold increase in the number of tickets issued via the internet which lead to an eightfold increase in revenues to RMB206,231 . This increase is mainly down to management's strategy to increase spend on online marketing and is particularly pleasing as it illustrates the exponential growth in the number of FIT travellers purchasing tickets over the internet endorsing ETC's online business model," the company stated.
Matthew Ng, President and Chief Executive Officer, commented:
'Et-china's trading performance over the holiday period has been very encouraging. Our tour operating business is performing well, achieving almost 10% of last year's total revenues over the week long holiday period. We are also heartened by the strong performance from ETC as it endorses our strategy of forming strategic alliances to deliver sales over the internet.'
'While much has been written about the slowdown in the Chinese economy, we are seeing buoyant levels of activity. In Southern China, we are experiencing more people travelling and an increase in their levels of spending which is a clear sign that they feel confident about the economy going forward.'
'It has been a very encouraging start to the year and we look forward to consolidating our position as the leading travel services group in Southern China.'
Other ET-China.com news
- Et-China’s GZL subsidiary achieves record performance over national day holiday
2009-10-21 - Et-China soars after Kuoni buys hedge fund’s 31.8 pct stake in company
2009-06-04
