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China State Construction posts 10.5% rise in Q3 profit

Oct. 30, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, has announced its net profit rose 10.5% YoY to RMB 3.51 billion in the third quarter of this year.

According to a report filed in Shanghai Stock Exchange, basic earnings per share were RMB 0.12 during the period.

From January to September, the company saw its net profit amount to RMB 10.68 billion, reflecting a YoY increase of 10.2%, while its operating revenue for the period grew 13.5% YoY to RMB 393.93 billion.

In the first nine month of this year, China State Construction Engineering's property sales totalled RMB 90.5 billion, up 33.7% YoY, while its sales area for the nine-month period surged 45.2% YoY to 7.61 million sq m.

As of the end of last month, the company had a total of 63.3 million sq m in land reserve.

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