CITS net income grows 2.42% in 2015
04/27/2016|7:54:06 AM|ChinaTravelNews

Top Chinese tour operator CITS reported on April 22 that its 2015 full-year revenue was RMB 21.292 billion, increased by 6.8% YoY, and operating profit was RMB 2.296 billion, up by 4.26% YoY. Net income attributable to parent company shareholders was RMB 1.506 billion, up 2.42% from the previous year. 

Operating revenue of the company’s travel services was RMB 12.33 billion, increased by 2.66% YoY. Revenue generated from its outbound travel services increased by 9.08% YoY to RMB 6.95 billion and the gross margin was 5.81%, 0.15 percentage points higher than the previous year. Revenue from its visa application services grew 7.63% to RMB 784 million and the gross margin was 22.55%, 0.03 percentage points higher than the year before. 

The company’s duty-free merchandising business thrived during the reporting period due to a better combination of tour and shopping. The company’s subsidiary Sanya Haitangwan Duty-free Shopping Center registered a 18.74% increase in operating revenue to RMB 4.246 billion. The traditional duty-free sales channels of CITS posted RMB 2.341 billion operation revenue, up by 8.39% year on year. (Translated by Jerry)