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China State Construction's 2011 net profit up 46.5%

Apr. 20, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, announced yesterday that its net profit surged 46.5% year on year to RMB 13.54 billion in 2011.

Basic earnings per share were RMB 0.45 last year. The company proposed a dividend of RMB 0.80 per ten shares.

The company's operating revenue increased 30.3% year on year to RMB 482.8 billion last year.

China State Construction signed RMB 930.7 billion of contracts in the year, 16.1% more than in 2010.

The value of construction orders rose 15.3% year on year to RMB 856.6 billion, including RMB 722.3 billion of property construction orders and RMB 120.7 billion of infrastructure construction orders, up 14.2% and 21.7% year on year, respectively.

As for property business, the company's sales surged 33.2% year on year to RMB 89.1 billion and its sales area climbed 7.5% to 7 million square meters. The firm added 21.67 million sq m land reserves in 2011, taking its total land reserves to 61.94 million sq m at the end of last year.

This year, the company aims to sign RMB 900 billion of contracts and realize at least RMB 560 in operating revenue.

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