China's largest travel agency posted surging net profits in the first half of the year as a result of expanding domestic and outbound tourism.
China International Travel Service Corp., Ltd. (CITS) raked in 568 million yuan (89.6 million U.S. dollars) in net profits in the first half, up 71.93 percent year on year, the company said in a statement to the Shanghai Stock Exchange on Thursday.
Fast growth in domestic and outbound tourism brought the company's operating revenues to 6.91 billion yuan in the first half, up 36.73 percent from a year earlier, according to the statement.
Revenues from outbound tourism jumped 38.79 percent year on year to 2.08 billion yuan, while revenues from domestic tourism rose 15.68 percent to 1.18 billion yuan.
Inbound tourism accounted for 456.51 million yuan in revenues in the first six months, up 21.61 percent year on year, the company said.
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