Sinorama announces the fiscal year 2017 results

 

(2018-04-17)

On April 17, 2018, Sinorama Corporation (Stock Symbol: SNNN) announced its financial result for the year ended December 31, 2017. “Sinorama Corporation had a strong performance this year with the revenue increased 27% than last year, the total revenue was $98.27 million”, said QIAN HONG, Chairman of Sinorama.

Financial Summary for the year ended December 31, 2017 and 2016

 

Sinorama Corporation reported consolidated revenues of $98.27 million for the year ended December 31, 2017, an increase of 27% compared to the year ended December 31, 2016. The increase was primarily in the Asian Tours sector, as a result of the increase in the number of customers to 37.28 thousand customers, an increase of 9.01 thousand as compared with the number of 28.27 thousand for the year ended December 31, 2016. The revenue increase of Asia tour reached $14.78 million or 27%.

Bus Tours reported the largest percentage of revenue growth, 48% (or $4.58 million) from 2016 to 2017. In addition, the advertising investment in 2017 has increased the company’s market share, which has led to a substantial increase in revenue. The advertising investment has increased $1.31 million or 26% for the year ended December 31, 2017 compared to $5.11 million for the same period of 2016.

Sinorama Corporation has launched the OTA mode, at the same time Sinorama Corporation has sent Chinese travelers to North America, Europe and Oceania. Revenues are expected to continue growing significantly in the next few years. Sinorama will establish a global service center in Montreal Canada. This center will support the Sinorama globalization strategy, help to improve efficiency and reduce cost, and control the service quality. So that it will help Sinorama to scale-up, globalize, and build a cohesive system of travel industrial chain.

 

Notice

Please note that the above information only reveals the data of Vacances Sinorama (Montreal) and Sinorama Voyages (Paris), check below for more information about Sinorama Corporation.

Company Website: http://www.sinoramacorporation.com/

SEC Website: https://www.sec.gov/Archives/edgar/data/1687505/000114420418020946/tv491120_10k.htm

 

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Forward Looking Statement

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