Multimedia investment company Tom.com expects to break even this year, with turnover rising to HK$2 billion from HK$1.6 billion, helped in part by a big boost from its short-messaging business. Chief executive Wang Sing said last year was an encouraging one for the Li Ka Shing-controlled company. He said fourth-quarter results, which will be announced in March, would be close to profitability. 'We have positive cash flow within market expectations,' Mr Wang said. 'With a depreciation and amortisation value of HK$160 million to HK$170 million, we will still make a net profit after tax. It shows we have very good cash flow and we are a more solid company than two years ago.' For the three months ended September, Tom.com recorded a loss of HK$44.13 million, compared to HK$49.55 million in the previous quarter. It had turnover of HK$451.55 million, up from HK$414.69 million. Mr Wang said revenue from online operations would exceed sales from outdoor media group Tom OMG this quarter. Online sales contributed 14 per cent to revenues, compared to 17 per cent for the outdoor media business. Like rivals Sina.com and Sohu.com, profits at Tom.com have been boosted by fast-growing short messaging services (SMS) and content downloads. Mr Wang said the SMS market in China would be worth 20 billion yuan (about HK$18.95 billion) this year, more than double last year's nine billion yuan. Tom.com has eight million registered SMS users who send roughly two million messages daily. The company is also looking to advertising sales and its sport and entertainment business for higher revenue. Citing a report from Zenith Media, Mr Wang said advertising spending in China would grow by 14.6 per cent this year to 53.3 billion yuan.