New | Building boom drives China State Construction’s first-half profit up 25pc
China State Construction International posted a 24.93 per cent jump in first-half net profit as construction business boomed in Hong Kong and Macau.
The mainland-backed company said its net profit was about HK$1.47 billion, compared with HK$1.17 billion in the first half of last year. Revenue surged 23.9 per cent to HK$14.26 billion.
Earnings per share were 37.66 HK cents, up 24.8 per cent on last year.
Directors declared an interim dividend of 11 HK cents a share, compared with 9 HK cents a share in the first half of last year.
“Taking advantage of the booming market, the group’s construction business has become prosperous,” chairman and chief executive Zhou Yong said on Thursday in the company’s earnings results statement.
Taking advantage of the booming market, the group’s construction business has become prosperous
The firm signed contracts valued at HK$19.2 billion in the first half of the year. Zhou said the contract value of the Macau MGM Cotai project amounted to about HK$10.5 billion, setting a new group record for a single contract.