Latest News :2009.04.30

Apr. 30, 2009 (China Knowledge) - China Railway Group Ltd<601390><0390>, the country's leading integrated construction group, on Wednesday announced that its net profit surged 86.61% year on year to RMB 982 million in the first quarter of this year, and that earnings per share were RMB 0.05.

The company earned operating revenue of RMB 60.11 billion for the first three months of 2009, reflecting a year-on-year growth of 70.92%.

In 2008, the company's operating revenue rose 27.40% from the previous year to RMB 234.62 billion, while its net profit declined 65.46% compared with a year earlier to RMB 1.12 billion.

The company had signed new contracts of RMB 428.45 billion by the end of 2008, up 72.42% year on year. The overseas contracts amounted to RMB 24.52 billion.

China Railway set a capital expenditure target of approximately RMB 13 billion in 2009, 13.3% lower compared with a year ago.