Utour reaps 3.875 billion yuan from outbound wholesale in H1 2017
In the first half of 2017, Utour chalked up total operating revenues of RMB 5.05 billion, up by 13.40%, and incomes of outbound wholesaling business grew by 13.11% to RMB 3.875 billion.
Utour reported an increase of 13.40% in total operating income to RMB 5.05 billion for the first half this year ended June 30. Net income attributable to shareholders was RMB 95.2514 million, an increase of 26.58%, according to the interim financial results announced recently.
Utour operates mainly wholesale and retail outbound travel, as well as integrated marketing services. Its wholesale business generated revenues of RMB 3.875 billion in the first half of 2017, up 13.11%. Gross profit margin was 8.81%, up 0.88 percentage points. The retail business generated an income of RMB 768.8 million, an increase of 6.82%, and gross profit margin of 15.08%, up 1.51 percentage points. The revenues from integrated marketing services totaled RMB 326 million, an increase of 22.79%, with gross profit margin at 10.71%, up 0.64 percentage points.
The strengths of its outbound business have enabled Utour to extend to other outbound services, such as education tourism, migration by real estate investment, individual foreign currency exchange, shopping tax rebate processing agent, travel consumer credit and supply chain finance. In the first half of 2017, revenues from such businesses were RMB 8.5209 million, an increase of 338.62% from the previous year, mainly contributed by its services in currency exchange, product sales and migration by real estate investment.
The interim financial report also shows that Utour continued to expand both domestic tourist sources and overseas destinations in the first half of 2017, with measures like investing in ground-handling agencies in Japan and strengthening the operation of retail stores in China. Utour has a total of 108 retail stores as of the end June.