Tuesday, May 20, 2008

China Railway first quarter profit soars 150%

China Railway Group Limited, the largest integrated construction group in China and Asia in terms of total contracting revenue, has announced its unaudited results for the first quarter of 2008 ending 31 March.

The group's first quarter revenue was RMB 34.9 billion (US$4.99 billion), increasing 7.7% year on year from RMB 32.4 billion in the same period in 2007. Operating profit soars 111.9% to RMB 674 million from RMB 318 million a year ago. Net profit soars 150.4% to RMB 631 million, up from RMB 252 million in the first quarter last year.

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