About a year ago KGI Asia recommended a neutral stance on Li Ka-shing's media group Tom.com, which provides media and advertising services in Greater China. The brokerage said it maintained its cautious outlook on the group, awaiting more signs of steady organic growth. Tom was continuing with its cross-media strategy. It had recently signed two agreements - with Charm Art & Advertising and with Henan Ming Sheng Advertising - to form television and print advertising joint ventures in the mainland. In August Tom reported its first quarterly profit, thanks to strong growth from its Internet and wireless data services, such as mobile-phone downloads. Profit in the second quarter was HK$10.1 million, while sales rose 9.8 per cent to $455.53 million. Internet revenue climbed 31 per cent to $123.9 million, of which $88 million was from wireless services. But for the first half Tom reported a $32.67 million loss compared with a loss of $124.5 million in the same period last year. This month Tom reported its second consecutive quarterly net profit, of $18.45 million, an 81 per cent jump from the second quarter. Turnover remained flat at $456.43 million due to the cancellation of sports events during the Sars outbreak and China Mobile's termination of a revenue stream from third-party web sites linked to Tom's portal. The counter closed at $2.20 on Friday.