Tom Group expects its publishing, outdoor and spun-off internet operations to propel it to a 2007 earnings target of $1 billion before interest, tax, depreciation and amortisation (ebitda). The multimedia investment group saw profits rise to $859.82 million last year from $12.59 million in 2003, mainly due to a windfall of $979.47 million from spinning off Tom Online. The group's revenue increased by 24.21 per cent to $2.59 billion and was expected to grow to $5 billion by 2007 or earlier, depending on the speed of acquisitions, said chief executive Sing Wang. 'By then, we want to have an ebitda margin of 25 per cent. It is not a very good margin, but it will mark us as one of the largest [media companies] in the region in terms of profitability and market share,' Mr Wang said. Tom Group had an ebitda margin of 14 per cent last year. Mr Wang said Chinese Entertainment Television (CETV), which Tom bought from Time Warner in 2003, had booked revenue of $60 million in the year to March. He expected full-year sales to reach $70 million to $80 million this year and more than $100 million in 2006. CETV last year recorded a loss of $88 million sales of about $32 million. 'We won't make CETV break even this year, as we will increase programming costs from $30 million last year,' Mr Wang said. He had previously stated the company would not buy any loss-making venture until CETV was in the black. The company plans look into operating in developed media markets, which Mr Wang claimed would significantly transform the existing business. The firm had not yet recommended a dividend, but it was 'very close' to doing so, Mr Wang said.