China Railway Group net profit up 6.63% in H1
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China Railway Group Ltd., one of China's leading heavy construction firms, said Monday its net profit in the first half of 2010 rose 6.63 percent year on year.
Net profit totalled 3.285 billion yuan (482.88 million U.S. dollars) and earnings per share stood at 0.15 yuan, up 7.14 percent from last year, the company said in a statement filed with the Shanghai Stock Exchange.
During the first six months, China Railway signed new contracts worth 372.48 billion yuan, up 44.9 percent year on year.
Revenue during the period increased 30.11 percent to 192.72 billion yuan.
The Beijing-based firm attributed its strong first half performance to its consolidation of its leading position in the infrastructure building market through the signing of new contracts worth 314.55 billion yuan.
The company said the government's continuous investment in infrastructure, including railways and highways, would provide a platform for the company's future growth.
