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Power Construction Corp. of China Q2 profit climbs 16.0% YOY

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Power Construction Corp. of China Q2 profit climbs 16.0% YOY

Power Construction Corp. of China Ltd. said its second-quarter normalized net income came to 11 fen per share, a gain of 8.0% from 10 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 1.67 billion yuan, a gain of 16.0% from 1.44 billion yuan in the year-earlier period.

The normalized profit margin fell to 2.5% from 2.5% in the year-earlier period.

Total revenue increased 18.2% year over year to 67.00 billion yuan from 56.68 billion yuan, and total operating expenses climbed 17.9% from the prior-year period to 62.97 billion yuan from 53.41 billion yuan.

Reported net income grew 8.7% year over year to 2.00 billion yuan, or 14 fen per share, from 1.84 billion yuan, or 13 fen per share.

As of Aug. 28, US$1 was equivalent to 6.63 yuan.