SXPT Sino Express Reports Fourth Quarter 2005 Unaudited Financial Results
Business Wire - January 25, 2006 6:00 AM (EDT)
HONG KONG, Jan 25, 2006 (BUSINESS WIRE) -- Sino Express Travel Limited (OTC:SXPT), a leading travel service provider in the greater China, today announced its unaudited financial results for the quarter ended December 30, 2005.
A Highlights for the fourth quarter of 2005:
A -- The fourth quarter of 2005 financial statements include
results from subsidiaries:
A -- GS Travel Limited, headquartered in Hong Kong. Acquired on
1st August 2005.
A -- Guang Zhi Lui Limited ("www.v222.com"), based in Guang
Zhou, China. Acquired on 1st October 2005.
A -- Net revenues were US$1.75 million in the fourth quarter of
2005.
A -- Gross profit was US$204,154
A -- Net income was US$65,013
A Pro forma combined financial statements for the fourth quarter of
2005:
A -- The pro forma fourth quarter of 2005 financial statements
include results from subsidiaries:
A -- GS Travel Limited, headquartered in Hong Kong.
A -- Guang Zhi Lui Limited ("www.v222.com"), based in Guang
Zhou, China.
A -- NSIBC Limited ("www.NSIBC.com"), based in Beijing, China.
Acquired on 1st January 2006.
A -- YTD Limited ("www.ytdchina.com") based in Guang Zhou,
China. Acquired on 1st January 2006.
A -- The pro forma Net revenues were US$2.18 million in the fourth
quarter of 2005.
A -- The pro forma Gross profit was US$241,177
A -- The pro forma Net income was US$83,499
"We are pleased to announce a solid fourth quarter performance. The Sino team will continue focusing on its long-term development plan in the New Year. As we execute our expansion strategies in the greater China, we expect 2006 will be a year of high growth in profits and sales in this fragmented industry," commented Xia Chen, Chief Executive Officer of Sino Express.
Sino Express Travel Limited (www.sinoexpresstravel.com), together with its 100% owned subsidiaries, GS Travel (Hong Kong) Ltd., NSIBC Ltd., YTD Ltd. and www.v222.com, is an international travel company with operating offices in Hong Kong, Beijing, Guangzhou, Vancouver, Toronto and Seattle. Sino intends to grow its business by acquiring and operating a diversified travel business portfolio, seeking to invest in profitable travel related companies with reputable management and high growth potential.
Forward looking statement
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
SOURCE: Sino Express Travel Limited
Sino Express Travel Limited
Miss Shirley Yu, (852) 3106-0998 (Investor Relations)
Fax: (852) 3106-0280
ir@sinoexpresstravel.com
Copyright Business Wire 2006
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