China Railway Construction net profit up 52.1% in H1

BEIJING, Sep. 1 -- China Railway Construction Corporation (CRCC), one of China's largest heavy construction firms, said Tuesday its first-half-year net profits rose 52.1 percent from one year earlier.

Net profits totaled 3.38 billion yuan ($496.16 million) and earnings per share stood at 0.27 yuan, up 50 percent from the same period last year, the company said in a statement filed with the Shanghai Stock Exchange.

Business revenues grew by 37.71 percent from one year earlier to reach 179.32 billion yuan, the Beijing-based company said.

In spite of the government's measures to regulate the property market, put local governments' financing platforms in order, and restrict the nation's energy-intensive sectors, CRCC still managed to sign new contracts valued at 313.43 billion yuan, up 21.79 percent, said the statement.