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China Communications Construction Q2 profit falls YOY

China Communications Construction Co. Ltd. said its second-quarter normalized net income came to 20 fen per share, a decrease of 5.5% from 21 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 3.27 billion yuan, a decline from 3.34 billion yuan in the prior-year period.

The normalized profit margin climbed to 3.9% from 3.5% in the year-earlier period.

Total revenue grew 5.5% year over year to 101.96 billion yuan from 96.64 billion yuan, and total operating expenses climbed 8.2% on an annual basis to 97.05 billion yuan from 89.68 billion yuan.

Reported net income rose 10.6% from the prior-year period to 4.41 billion yuan, or 27 fen per share, from 3.99 billion yuan, or 25 fen per share.

As of Aug. 28, US$1 was equivalent to 6.39 yuan.