Trip.com nets over 17 billion yuan profit

Shares of Trip.com (9961) once slumped by 7.8 percent yesterday, despite posting an over 72 percent rise in net profit to 17.07 billion yuan (HK$18.31 billion) last year.

Net revenue for the year jumped by nearly 20 percent 53.38 billion yuan, thanks to strong travel demand, the online travel agency said in a filing yesterday.

It declared a dividend of 30 US cents (HK$2.34) and plans to buy back up to US$400 million worth of shares or American depositary receipts as part of its new capital return measures.

STAFF REPORTER