China State Construction International Holdings yesterday posted a 20.9 per cent increase in net profit to HK$489.32 million for the past year to December. The subsidiary of China Overseas Land & Investment said turnover rose 8.4 per cent to HK$11.02 billion from HK$10.17 billion. Gross profit rose 18.7 per cent to HK$909.39 million, and gross margin to 8.3 per cent from 7.5 per cent. Earnings per share rose 9.5 per cent to 20.6 HK cents. A final dividend of 3.3 HK cents was declared, taking the full-year payout to 7 HK cents. China State Construction is the largest works contractor in Hong Kong, mostly taking on projects from the government, public organisations and large private corporates. The company said the financial crisis had affected Hong Kong's economy and construction industry last year. But it expected to see more opportunities this year with the launch of the government's 10 major construction plans and numerous small-scale projects.