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Chinese Internet company Tencent Holdings Limited (SEHK: 0700) has published its performance report for the first half of 2009 and states it maintained a stable growth during the period, with net profit up 89.1% year-on-year to CNY2.228 billion.
At the same time, the company made total revenue of CNY5.383 billion, an increase of 77.5% compared with the same period of last year. Of the total revenue, a major part was contributed by its Internet value-added services and the revenue from this sector reached CNY4.061 billion, an increase of 99.5% over the previous year.
In addition, its revenue from mobile and telecom value-added services was CNY909.5 million, a year-on-year increase of 45.2%; revenue from online advertising business was CNY389.6 million, a year-on-year increase of 6.1%.
Stimulated by the signification revenue growth of its major businesses, Tencent’s gross profit also increased by 67.1% in the first six months of 2009, reaching CNY3.663 billion.
According to Ma Huateng, chairman of Tencent, in the second quarter of 2009, the company continued to enhance its online platform and improve its Internet value-added services, especially the commercialization of its online games, leading to stable growths of its operating and financial performances.
Looking ahead, the company will make more efforts in research to improve online game quality and enhance competitiveness pointed executives for Tencent, adding that the company will delay the launch of some games.
Written on Wednesday, 02 September 2009 13:58 by Matt McDougall
