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China Communications Construction' net profit up 22.93% in 2011

Mar. 27, 2012 (China Knowledge) - China Communications Construction Co Ltd<601800><1800>, which operates transportation infrastructure and heavy machinery manufacturing businesses, said yesterday that its net profit jumped 22.93% year on year to RMB 11.60 billion last year.

Basic earnings per share were RMB 0.78 last year, and the company declared a final dividend of RMB 0.18 per share.

China Communications Construction, which was listed on the Shanghai bourse on Mar. 9 this year, saw its operating revenue climb 7.97% year on year to RMB 295.37 billion in 2011.

Revenue from infrastructure construction grew 6.76% year on year to RMB 226.5 billion, and that from infrastructure design business surged 33.24% to RMB 15 billion. The dredging segment generated RMB 32.3 billion of revenue in the year, 14.98% more than in 2010, and the equipment manufacturing business reaped RMB 20.1 billion of revenue.

The company's new contract value rose 11.20% year on year to RMB 457.85 billion last year, of which RMB 15.57 billion or 23.03% was from the overseas market. As of the end of 2011, the firm's outstanding orders had risen 17.54% from a year earlier to RMB 601.91 billion.

This year, the company aims to sign RMB 460 billion of new contracts and realize RMB 310 billion in operating revenue.

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