CTRIP.COM International Ltd, China's biggest online tickets agent, said first-quarter profit rose 34 percent, helped by robust travel demand.

Net income rose to 65 million yuan (US$8.5 million) from 48 million yuan a year earlier, the Shanghai-based company said yesterday. Sales gained 49 percent to 232 million yuan.

Chinese consumers spent 21 percent more on recreational activities in April from a year earlier, according to government data. The number of Chinese air passengers rose 16 percent in the first quarter, according to the General Administration of Civil Aviation.

The company was expected to report net income of 57.4 million yuan on sales of 216 million yuan, according to average analyst estimates compiled by Bloomberg News. Four analysts provided profit estimates, and eight supplied sales estimates.

First-quarter gross margin, or the percentage of sales left after deducting production costs, fell to 79 percent from 82 percent a year earlier, Bloomberg reported.

Source:佚名