Business-to-business Internet company Alibaba.com Limited said on Tuesday its net profit in the first half of 2010 was 693 million Yuan, representing a 39.8 percent year-on-year growth. Total revenue during the period was 2,587 million Yuan, up 49 percent compared to the first half of 2009.
The increase was driven by strong acquisition of paying members as well as increased revenue from value-added services on both international and national marketplaces. Outlook: Alibaba stated although export from China will continue to grow, the year-on-year export growth rate in coming quarters will continue to slow down due to the major uncertainties in raising costs for labor and raw materials, appreciation pressure on RMB, as well as the latest challenges faced by the major buyer markets. Alibaba shares rose 0.26 percent to close at 15.46 HK dollars in Hong Kong trading before the announcement. Source: Alibaba Press Release