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CSR reports 52.96% surge in net profit for 2011

Apr. 2, 2012 (China Knowledge) - CSR Co Ltd<601766><1766>, the country's largest manufacturer of rail vehicles, has announced that its net profit surged 52.96% year on year to RMB 3.86 billion last year.

The company proposed a dividend of RMB 1.8 per ten shares for 2011.

Operating revenue jumped 23.92% from the previous year to RMB 80.71 billion last year. The multiple-unit train segment was the largest revenue contributor in the year, seeing revenue rise 43.47% to RMB 21.11 billion. Revenue from locomotive business fell 1.25% year on year to RMB 17.9 billion and that from passenger coach business grew 50.57% to RMB 6.38 billion.

The company's overseas market generated RMB 6.13 billion of revenue last year, reflecting a robust growth of 161.82% year on year.

CSR's overall gross profit margin increased by 1.35 percentage points to 18.58% in the period.

In 2012, the company aims to increase its operating revenue by more than 10% and plans to allocate RMB 6.64 billion for fix-asset investment.

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