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BesTV New Media's net profit up 53.98% in H1

Jul. 27, 2012 (China Knowledge) - BesTV New Media Co Ltd<600637> announced yesterday that its net profit surged 53.98% YoY to RMB 257 million in the first half of this year, boosted by strong growth in Internet Protocol television users.

Basic earnings per share were RMB 0.23 during the period, said the company in its interim report.

BesTV New Media realized RMB 916 million in operating revenue in the first six months, up 49.24% from the same period of last year.

The Shanghai-listed company recently invested US$30 million in Beijing Fengxing Online Technology Co, which has 270 million users, to strengthen its competitiveness in the web video sector.

In 2011, the number of IPTV users in China surged 70% YoY to 13.7 million, according to a report by IHS iSuppli.

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