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China Railway Construction Q2 profit climbs 25.9% YOY

China Railway Construction Corp. Ltd. said its normalized net income for the second quarter amounted to 18 fen per share, a gain of 10.3% from 17 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 2.59 billion yuan, an increase of 25.9% from 2.05 billion yuan in the year-earlier period.

The normalized profit margin rose to 1.7% from 1.4% in the year-earlier period.

Total revenue grew year over year to 148.05 billion yuan from 145.56 billion yuan, and total operating expenses grew from the prior-year period to 142.37 billion yuan from 140.82 billion yuan.

Reported net income increased 8.4% from the prior-year period to 3.29 billion yuan, or 23 fen per share, from 3.04 billion yuan, or 25 fen per share.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.