News this week: Hong Kong-listed China.com has announced its financial results for the year ended 31st December. Its subsidiary TTG, a B2B media group serving the travel trade in Asia, posted a revenue increase of 17% over results in 2009. Revenues were US$10 million in 2010 compared with US$8.6 million in 2009. TTG’s revenues now account for 74% of China.com’s overall revenues. The remaining 26% are primarily generated by China.com’s “portal” business. The TTG business remains solidly profitable, net income from China.com’s travel media business rose 26% from US$1.51 million in 2009 to US$1.9 million last year.
Company management also highlighted in its annual report that TTG successfully organised four events last year – the ASEAN Tourism Forum (ATF) in Brunei, Incentive Travel & Conventions, Meetings China (IT&CM) in Shanghai, Gifts and Stationary Show in Singapore, and Incentive Travel & Conventions, Meetings Asia (IT&CMA) in Bangkok.
Source: Hong Kong Stock Exchange announcement
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