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Paul Y. Engineering Group sees profit up 43% in H1

Nov. 19, 2012 (China Knowledge) - Paul Y. Engineering Group<0577>, which is mainly engaged in management contracting and property development management, has posted a net profit attributable to shareholders of HK$21 million in the six-month ended Sep 30, 2012, up 43% from a year earlier.

According to a statement filed with Hong Kong Stock Exchange, basic earnings per share for the period were 3.5 HK cents, and no dividend was declared.

The company saw its turnover hit HK$3.44 billion in the six-month period, reflecting a YoY increase of 66%, including HK$3.43 billion from its management contracting division, up 68% YoY.

The company's gross profit margin decreased from 3.6% to 3.3% during the period, mainly due to the growth in manpower costs and other construction costs.

As of the end of September 2012, the Hong Kong listed company had HK$15.87 billion worth of contracts in hand.

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