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Power Construction Corp. of China Q3 profit climbs YOY

Power Construction Corp. of China Ltd. said its normalized net income for the third quarter amounted to 9 fen per share, an increase from 9 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 1.22 billion yuan, an increase from 1.18 billion yuan in the prior-year period.

The normalized profit margin declined to 2.4% from 2.5% in the year-earlier period.

Total revenue grew 10.5% year over year to 51.28 billion yuan from 46.42 billion yuan, and total operating expenses grew 11.5% on an annual basis to 48.25 billion yuan from 43.26 billion yuan.

Reported net income increased year over year to 1.68 billion yuan, or 12 fen per share, from 1.63 billion yuan, or 12 fen per share.

As of Oct. 30, US$1 was equivalent to 6.32 yuan.