Tom.com Comapny Posts Revenue Growth in Second Quarter

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Last updated at: (Beijing Time) Thursday, August 08, 2002

Tom.com Comapny Posts Revenue Growth in Second Quarter

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High-tech listed share Tom.Com Limited posted 57 percent revenue growth for the second quarter, listing its narrowband online operations on China's mainland as one of the most prospective item on its balance sheet, according to its news release Thursday.

The company's results for the three months ended June 30, 2002 showed the company recorded a total revenue of 415 million Hong Kong dollars (53.2 million US dollars) and earnings before interest, taxation, depreciation and amortization (EBDITA) at 12.5million Hong Kong dollars (1.5 million US dollars).

The EBITDA of 12.5 million dollars recorded in the quarter was a 48 million dollar (6.1 million US dollar) improvement on EBITDA loss of 35 million Hong Kong dollars (4.4 million US dollars) in the previous quarter.

"Strong performance of Tom.Com's fee-based online services together with integration efforts in the past year contributed to the company's narrowband operations in the Chinese mainland generating positive EBITDA with 24 months, making the company the most cost-efficient online operator on the mainland," the news release said.

Comparing with last year, online revenue for the six months ended June 30, 2002 doubled to 110 million Hong Kong dollars (14.1million US dollars), it said.

The company's other services included advertizing, mobile phone,pay e-mail services and a publishing business.

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