Home Inns and Hotels Management Inc., a leading economy lodging chain in China, reported revenue of 989.5 million yuan (about 135.7 million U.S. dollars) last year, an annual increase of 68.1 percent.
The profit margin of the Nasdaq-listed company jumped 43 percent year on year to 106.7 million yuan in 2007, its unaudited financial report said.
The surge came after the Shanghai-based company suffered a net loss of 15.2 million yuan for the fourth quarter of 2007.
The net loss included share-based compensation expenses of 4.6 million yuan, foreign exchange losses of 24.1 million yuan and 13.2 million yuan related to the purchase of the Top Star hotel chain.
The financial report indicated the quarterly revenues increased 82.9 percent year on year to 327.6 million yuan.
Last year, Home Inns opened 107 new hotels, excluding the 25 Top Star hotels it acquired in the fourth quarter, the report said.
(Xinhua News Agency March 9, 2008)