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XCMG Construction's H1 profit down 28.67%

Aug. 15, 2012 (China Knowledge) - XCMG Construction Machinery Co Ltd<000425>, one of the leading construction machinery makers in China, announced yesterday that its net profit fell 28.67% YoY to RMB 1.59 billion in the first half of this year, due to a sharp decline in sales volume of its major products.

Basic earnings per share were RMB 0.77 during the period, down 28.7% YoY, said the company in its interim report.

The company's operating revenue decreased 7.96% from the same period of last year to RMB 17.96 billion in the first six months.

XCMG Construction Machinery saw the sales volume of its eight major products slide 29.9% YoY to 225,142 units in the period, due to weak demand.

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