Capital Tourism FY profit up 41%

Beijing Capital Tourism Co, a hotel management and travel services provider, yesterday reported a better-than-expected 41 percent jump in full-year net profit, driven by the Olympics-related business boom and improved management and cost-cutting measures.

Its net profit climbed to 172 million yuan, or 0.75 yuan per share, on sales of 1.79 billion yuan, which were down a slight 1.5 percent from a year ago, the Shanghai-listed company said in its full-year earnings report.

The company, which also operates an exhibition business and develops tourism resorts, said the robust business during the Beijing 2008 Summer Olympics partly offset the negative impact on its business caused by the May 12 earthquake, the icy storm in south China at the beginning of last year and the current global financial crisis.