China’s largest journey administration platform Journey.com Group mentioned earnings jumped greater than anticipated final quarter, with some components of its enterprise surpassing pre-pandemic ranges, as worldwide journey recovered.
Fourth-quarter internet earnings rose 69 per cent to 2.2 billion yuan (US$303.5 million), whereas income elevated 23 per cent to 12.7 billion yuan, in keeping with a Hong Kong inventory change submitting on Tuesday. For the total 12 months, income climbed 20 per cent to 53.4 billion yuan whereas earnings surged 72 per cent to 17.1 billion yuan.
Income for the quarter got here in 3.4 per cent above the market consensus, in keeping with Jefferies, and was 3.9 per cent greater than the brokerage’s estimate.
“With a promising market outlook, we’re well-positioned to ship excellent journey providers globally,” CEO Jane Solar mentioned. “We’re assured in our potential to create worth for customers and succeed with enterprise companions by way of new initiatives.”
The Singapore-based group mentioned outbound lodge and air ticket bookings reached 120 per cent of the degrees earlier than the Covid-19 pandemic. Inbound journey bookings greater than doubled as China ramped up measures to spur consumption and entice international vacationers with visa-free entry programmes.
Journey.com handed out 30 US cents a share in dividend for the total 12 months of 2024. It has put aside US$400 million for a inventory buy-back programme in 2025, the submitting confirmed. The group had 90 billion yuan of money and money equal on December 31.