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China Railway Construction profit misses consensus by 18.6% in Q3

China Railway Construction Corp. Ltd. said its normalized net income for the third quarter came to 19 fen per share, compared with the S&P Capital IQ consensus estimate of 23 fen per share.

EPS climbed 5.1% year over year from 18 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.27 billion yuan, a gain from 2.16 billion yuan in the year-earlier period.

The normalized profit margin rose to 1.5% from 1.4% in the year-earlier period.

Total revenue totaled 150.16 billion yuan, compared with 150.32 billion yuan in the year-earlier period, and total operating expenses totaled 144.48 billion yuan, compared with 145.81 billion yuan in the prior-year period.

Reported net income rose on an annual basis to 2.78 billion yuan, or 23 fen per share, from 2.67 billion yuan, or 22 fen per share.

As of Oct. 30, US$1 was equivalent to 6.32 yuan.