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Power Construction Corp. of China Q3 profit climbs 15.1% YOY

Power Construction Corp. of China Ltd. said its normalized net income for the third quarter came to 9 fen per share, a gain from 9 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.62 billion yuan, a gain of 15.1% from 1.41 billion yuan in the prior-year period.

The normalized profit margin rose to 2.5% from 2.4% in the year-earlier period.

Total revenue increased 12.6% on an annual basis to 66.11 billion yuan from 58.73 billion yuan, and total operating expenses rose 10.7% year over year to 61.78 billion yuan from 55.81 billion yuan.

Reported net income increased year over year to 1.98 billion yuan, or 11 fen per share, from 1.90 billion yuan, or 12 fen per share.

As of Oct. 30, US$1 was equivalent to 6.65 yuan.