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China State Construction Engineering Q2 profit climbs 25.3% YOY

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China State Construction Engineering Q2 profit climbs 25.3% YOY

China State Construction Engineering Corp. Ltd. said its second-quarter normalized net income was 25 fen per share, an increase of 28.5% from 20 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 7.44 billion yuan, an increase of 25.3% from 5.93 billion yuan in the prior-year period.

The normalized profit margin rose to 2.9% from 2.7% in the year-earlier period.

Total revenue increased 16.2% on an annual basis to 255.63 billion yuan from 219.97 billion yuan, and total operating expenses increased 16.0% year over year to 235.99 billion yuan from 203.39 billion yuan.

Reported net income increased 18.8% year over year to 8.48 billion yuan, or 29 fen per share, from 7.13 billion yuan, or 24 fen per share.

As of Aug. 23, US$1 was equivalent to 6.64 yuan.