ET-China.com
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Et-China’s GZL subsidiary achieves record performance over national day holiday
China based travel services group, Et-china (AIM:ETC) announced record trading performance during China's Golden Week holiday at its package tour provider, GZL.
Each year there are 2 Golden Week holidays, the first around the Chinese New Year in January and February and the second around National Day on 1st October which this year included an extra day to mark the 60th anniversary of the People's Republic.
Over the national holiday period, GZL increased its tour headcount by 22.7% compared with 2008, approximately 59,000 customers travelled with GZL. Subsequently GZL generated total sales revenue of RMB78.3m (£7.0m) which is a increase of approximately 124%.
Strongest growth came from sale of short-haul tours which increased 315% to RMB 18.6m (£1.7m). A total of 2,011 customers purchased long-haul tours generating revenues of RMB15.9m (£1.4m) an increase of 189%.
Growth in domestic tours saw revenues increase 107% to RMB40.5m (£3.6m), customer numbers increased by approximately 81% to 43,840. Meanwhile as previous historic travel restrictions have eased, revenues from tours to Hong Kong and Macau also increased 59% to RMB3.2m (£0.3m).
Matthew Ng, President and Chief Executive Officer, commented: "The board is greatly encouraged by these figures which continue to illustrate the attractiveness of the Chinese travel sector and we remain optimistic that the group will see an improved performance in the second half and into 2010, when we expect volumes to increase surrounding the Shanghai World Expo and the Guangzhou Asian Games."
Other ET-China.com news
- Et-China soars after Kuoni buys hedge fund’s 31.8 pct stake in company
2009-06-04 - Et-china.com reports "substantial" boost in trading during Chinese New Year
2009-02-10
