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Sany Heavy's Q1 profit up 5.3%

May. 2, 2012 (China Knowledge) – Sany Heavy Industry Co Ltd<600031><0631>, a leading Chinese heavy construction equipment maker, announced that its net profit attributed to shareholders grew 5.3% year on year to RMB 2.8 billion in the first quarter of this year.

According to a statement filed with Shanghai Stock Exchange, the company saw its operation revenue for the first three month of this year increased 4.9% year on year to RMB 14.68 billion.

Basic earnings per share for the three-month period were RMB 0.37, 5.13% more than it realized in the same period of last year.

In 2011, Sany Heavy's operation revenue reached RMB 50.78 billion, surge 49.54% than a year earlier, and realized RMB 8.65 billion in net profit attributed to shareholders last year, reflecting a year-on-year increase of 54.02%.

Last month, the Chinese heavy construction equipment maker completed the acquisition of Germany-based concrete pump maker Putzmeister a 90% stake, China Knowledge reported earlier.

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