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China Railway Construction Q3 profit climbs 9.4% YOY

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China Railway Construction Q3 profit climbs 9.4% YOY

China Railway Construction Corp. Ltd. said its normalized net income for the third quarter was 19 fen per share, a gain of 5.1% from 18 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 2.75 billion yuan, an increase of 9.4% from 2.52 billion yuan in the prior-year period.

The normalized profit margin climbed to 1.6% from 1.6% in the year-earlier period.

Total revenue rose 9.1% year over year to 171.42 billion yuan from 157.16 billion yuan, and total operating expenses grew 9.2% on an annual basis to 165.84 billion yuan from 151.87 billion yuan.

Reported net income rose 21.3% year over year to 4.01 billion yuan, or 28 fen per share, from 3.30 billion yuan, or 24 fen per share.

As of Oct. 30, US$1 was equivalent to 6.65 yuan.