News Column

China State Construction Engineering H1 Net Up 34%

August 25, 2014

BEIJING, August 25, SinoCast -- China State Construction Engineering (SHSE: 601668) had net profit of about CNY 11.82 billion in the first half of 2014, up 34.4% year on year, with EPS of CNY 0.4. Operating revenue rose 24.2% to about CNY 374.94 billion.

Sales from real estate business fell 13.5% to CNY 68.2 billion. Sales area dropped 21% to 5.27 million square meters. Land reserves increased about 7.6 million square meters to around 66.55 million square meters.

Value of new overseas contracts jumped 88.6% to CNY 42.3 billion. Operating revenue of international business rose 23.4% to CNY 20.5 billion. Its wholly-owned China State Construction Engineering US completed acquiring US-based PLAZA and if performance of the target is taken into consideration, turnover of engineering management business of China State Construction Engineering US will touch about CNY 1.39 billion, edging into the top 20 list in the US.

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Source: Sinocast Construction & Real Estate Beat (China)

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