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Power Construction Corp. of China Q1 profit climbs YOY

Power Construction Corp. of China Ltd. said its first-quarter normalized net income amounted to 8 fen per share, an increase from 7 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 725.6 million yuan, an increase from 702.1 million yuan in the prior-year period.

The normalized profit margin rose to 2.7% from 2.1% in the year-earlier period.

Total revenue rose 12.1% year over year to 37.43 billion yuan from 33.40 billion yuan, and total operating expenses rose 11.4% from the prior-year period to 35.36 billion yuan from 31.73 billion yuan.

Reported net income grew 11.5% on an annual basis to 1.00 billion yuan, or 10 fen per share, from 899.4 million yuan, or 9 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.