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Sinohydro expects 10% growth in H1 profit

Aug. 1, 2012 (China Knowledge) - Sinohydro Group Ltd<601669>, a Chinese dam builder, announced today that it expects its net profit to increase at least 10% in the first half of this year.

The company said in a statement that its operating revenue was forecast to rise at least 8% in the period.

In the first six months of 2011, Sinohydro booked RMB 1.82 billion in net profit and RMB 50.87 billion in operating revenue.

Shares of Sinohydro slid 10.05% to close at RMB 3.49 yesterday, due to weaker-than-expected first-half performance.

The company's net profit grew 7.15% YoY to RMB 721 million in the first quarter of this year, and its operating revenue increased 16.41% to RMB 24.2 billion.

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