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China State Construction Engineering Q3 profit climbs YOY

China State Construction Engineering Corp. Ltd. said its normalized net income for the third quarter was 16 fen per share, a decline of 11.3% from 18 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 5.52 billion yuan, an increase from 5.39 billion yuan in the year-earlier period.

The normalized profit margin increased to 2.9% from 2.8% in the year-earlier period.

Total revenue grew year over year to 197.61 billion yuan from 190.71 billion yuan, and total operating expenses climbed on an annual basis to 186.66 billion yuan from 180.57 billion yuan.

Reported net income rose 21.4% from the prior-year period to 6.31 billion yuan, or 18 fen per share, from 5.20 billion yuan, or 17 fen per share.

As of Oct. 29, US$1 was equivalent to 6.36 yuan.