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Giant Interactive sees profit up 6.6% in Q4

Mar. 6, 2012 (China Knowledge) - Giant Interactive Group Inc<GA>, formerly known as Giant Network Technology Ltd, a company engaged in online game development, reaped RMB 246.4 million or US$39.2 million in net profit attributable to shareholders in the fourth quarter of 2011, up 6.6% from a year earlier.

The profit, however, decreased by 31.8% from the third quarter 2011.

In the fourth quarter of last year, the U.S.-listed firm's diluted earnings per American Depositary Share were RMB 1.05, compared with RMB 0.99 from a year earlier.
Non-GAAP net profit for the reporting period was RMB 257.7 million, down 9.6% from the third quarter 2011 and up 7% from the fourth quarter 2010.

In the three months ended Dec. 31, 2011, the company reaped RMB 494.8 million in operating revenue, up 34.4% year on year. Gross profit surged 37.3% from a year earlier to RMB 427.1 million with gross margin of 86.3%.  

For the whole of 2011, Giant Interactive earned RMB 880 million in net profit attributable to shareholders, 8.5% more than in 2010. Operating revenue grew by 34.5% to RMB 1.79 billion.

At the end of last year, the online game developer's cash and short-term investments had totaled RMB 1.87 billion, compared with RMB 1.91 billion as of Sep. 30, 2011.

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