Yulong Tourism 2011 Earnings Up 159%


Lijiang Yulong Tourism (002033), an operator of cable cars, hotels and travel agencies, posted a 158.81 percent year-on-year rise in 2011 net profit to 117.02 million yuan on a 48.64 percent increase in revenue to 555.29 million yuan, reports Shanghai Securities News, citing a company filing.

The company announced cash dividends of 1.5 yuan (including tax) for every 10 shares held.

The number of tourists who traveled to Yunnan province last year rose 18 percent year-on-year to 167 million, with total tourism revenue up 30 percent to 130 billion yuan.

Yulong Tourism attributes the surge in earnings to the consistent growth of its ropeway business and the acquisition of a 51 percent stake in Lijiang Yulong Xueshan Impression Travel Cultural Industry.

Revenue from the ropeway business increased 84.71 percent to 195.69 million yuan.

Lijiang Yulong Xueshan Impression Travel Cultural Industry generated net profit of 97.56 million yuan last year, and  the 51 percent stake enabled Yulong Tourism to obtain earnings of 49.76 million yuan from the former.



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