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China Railway Construction Q1 profit climbs 21.8% YOY

China Railway Construction Corp. Ltd. said its first-quarter normalized net income came to 18 fen per share, an increase of 18.8% from 15 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.50 billion yuan, a gain of 21.8% from 2.05 billion yuan in the prior-year period.

The normalized profit margin rose to 2.0% from 1.7% in the year-earlier period.

Total revenue climbed year over year to 123.07 billion yuan from 118.68 billion yuan, and total operating expenses rose from the prior-year period to 118.38 billion yuan from 114.43 billion yuan.

Reported net income grew 11.9% on an annual basis to 2.88 billion yuan, or 20 fen per share, from 2.57 billion yuan, or 19 fen per share.

As of April 28, US$1 was equivalent to 6.90 yuan.