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China Communications Construction’s new projects value rises
View(s):From Kapila Bandara in Hong Kong
Chinese government-owned China Communications Construction Company, which is building luxury real estate on reclaimed land under a controversial offshore financial centre proposal in Colombo reported today that new overseas contracts on its books were worth 130.09 billion yuan (Rs 2.84 trillion) in the nine months to September.
Foreign deals accounted for more than a quarter of all contracts undertaken by the company. The company is listed in Hong Kong and trades under the ticker 1800. All new contracts to September were worth 475.38 billion yuan, the company reported. The vale of new contracts increased by 10.10% year-on-year.
Contracts in infrastructure construction, infrastructure design, dredging, heavy machinery manufacturing, and other businesses were worth 402.57 billion yuan, 19.84 billion yuan, 26.47 billion yuan, 21.07 billion yuan, and 5.40 billion yuan, respectively, the company announced.
The value of new contracts of all businesses from investment projects was 125.43 billion yuan, the company announced. Reporting its unaudited financial performance for the nine months to September today, the company said earnings grew by 12.10% to 11.27 billion yuan. Basic earnings per share were 64 fen.
As usual, the company did not mention the Colombo project in its English earnings statement to the Hong Kong Stock Exchange.