DJ China Railway Group's First-Half Net Profit Rose 12.0%
By Ronnie Harui
China Railway Group Ltd.'s net profit for the first six months of this year rose 12.0%, mainly due to an increase in the value of new contracts.
The Chinese construction conglomerate's net profit rose to 13.10 billion yuan ($2.03 billion) from CNY11.70 billion in the same period a year earlier, it said late Monday.
Total revenue increased to CNY498.23 billion in the first half from CNY416.30 billion a year earlier.
As at end June, the value of contract backlog of the Group was CNY4.17 trillion, an 11.8% increase compared with the end of 2020.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
August 30, 2021 20:55 ET (00:55 GMT)
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