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Tom.com Hits First Profit

August 14, 2003
Internet

Li Ka-shing's multi-media investment firm recorded a first-ever net profit in the second quarter, driven by strong growth in its Internet-related business.

In turn, Tom.com saw its first-half net loss narrow 74 per cent to HK$32.67 million. Last month, Tom.com said it would buy a stake in loss-making China Entertainment Television (CETV) in Guangdong for US$6.8 million (HK$53.04 million) in shares plus a funding commitment of US$30 million for a 30-month period.

Tags: Business | China | entertainment | Guangdong | Internet | investment | IT | loss | media | net profit | profit | shares | technology | television | Tom.com

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