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Power Construction Corp. of China Q2 profit falls YOY

Power Construction Corp. of China Ltd. said its second-quarter normalized net income was 12 fen per share, a decrease of 7.0% from 13 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 2.12 billion yuan, a decrease of 7.0% from 2.28 billion yuan in the prior-year period.

The normalized profit margin fell to 2.9% from 4.4% in the year-earlier period.

Total revenue increased 7.7% year over year to 56.22 billion yuan from 52.20 billion yuan, and total operating expenses increased from the prior-year period to 49.21 billion yuan from 47.40 billion yuan.

Reported net income fell year over year to 2.28 billion yuan, or 13 fen per share, from 2.34 billion yuan, or 13 fen per share.

As of Aug. 27, US$1 was equivalent to 6.41 yuan.