TOM Group '09 operating profits up to HK$25m

TOM Group Limited, a Chinese-language media conglomerate in Greater China, said on Wednesday its operating profits in 2009 were HK$25 million ($3.22 million), compared with losses of HK$1.37 billion one year ago.

Its revenue was HK$2.44 billion, 10 percent less than 2008.

Ken Yeung, chief executive and executive director, said in a statement, "Despite the slow economic recovery, the Group continued to optimize its business platform and has reduced its operating costs by 20 percent."

Its Beijing-based Internet Group posted revenue of HK$1.06 billion and operating profit of HK$54 million.

Source: chinadaily.com.cn