* 2008 sales rise 19 pct, turns to profit
* No immediate IPO plans
* Helped by smaller exposure to advertising downturn

HELSINKI, March 30 (Reuters) - Finnish Internet company Sulake swung to a profit in 2008, boosted by increasing usage of its teenagers' networking site Habbo Hotel.

Sulake's virtual world Habbo Hotel (http://www.habbo.com/) has around 11.5 million monthly visitors, with most users being 13 to 16 years old and 90 percent using the site for free.

Micro-payments via credit cards and mobile phones for items like virtual room furniture mean the revenue stream at Sulake, founded in 2000, is growing. Advertising generates less than 20 percent of total income.

"We are confident that our Habbo business model, which is based primarily on user sales and supported by advertising, is a clear strength in the current economic climate," Chief Executive Timo Soininen said in a statement.

Sulake on Monday reported 2008 sales up 19 percent to 50.1 million euros ($66.3 million), with earnings before interest, tax, depreciation and amortisation reaching 4.8 million compared with a slight loss in 2007.

Sulake said regular site upgrades and a refresh of avatar clothing and accessories contributed to boosting user numbers.

"The strong revenue growth was mainly driven by a very good Habbo user revenue performance, supported by stable advertising sales," Chief Financial Officer Outi Henriksson told Reuters.

In 2009 the company said it will focus on sales and profit growth now that previous expansion plans to countries like China are complete. Sulake also plans to launch a new service this year, but did not disclose details.

"This, combined with the current state of the financial markets, means that we are not actively pursuing a public listing at the moment," Henriksson said.

The company earlier said it was planning a commercial launch for its mobile service minifriday.com, which has gathered more than a million users in a testing mode.

Before the financial crisis hit stocks and valuations, Silicon Alley Insider last year valued Sulake at $1.26 billion, just above career networking site LinkedIn.

Sulake's owners include Finnish advertising agency Taivas, which is partly owned by Britain's WPP , venture capitalists, telecom operator Elisa and Japan's Movida Group. (Reporting by Tarmo Virki; Editing by David Holmes) ($1=.7560 Euro)