Shares of By Tracy QuTrip.com increased in earlier Hong Kong trading after the travel business exceeded earnings projections due to increased hotel reservations in China and the post-pandemic recovery in air travel. At noon on Thursday, shares increased 5.0 % to 348.00 Hong Kong dollars, outpacing the 0.15 % increase in the Hang Seng Index. This gain increased the advance for this year to 25 %.
A 130 % increase in China hotel reservations as well as outbound hotel and air reservations that recovered to more than 80 % of pre-Covid levels contributed to the fourth quarter income, the online travel company reported ahead of trading. A consensus estimate for CNY10.2 billion that was compiled by FactSet was outperformed by a top line of 10.3 billion yuan ( US$ 1.43 billion ). Despite changes in investment valuations and share-based compensation costs, net profit decreased by 37 % to CNY1.30 billion, surpassing expectations for the same amount. A reduction from operations turned into a profit last year. The income were” solid beat” according to Citi experts, with a percentage that was “likely ahead of investment expectations.” They maintained a obtain rating and stated that, despite macrosoftness, Lunar New Year’s travel appeared “decent.” Profits and operating profit, according to Jefferies experts Thomas Chong and Zoey Zong, were higher than anticipated. Their goal share price is HK$ 453.00, and they have a buy rating. Send a letter to Tracy Qu at terry. [email protected]
