Net profits rise 8.7% for China Communications

State-owned China Communications Construction Company (CCCC) has reported net profits of CNY17.21 billion (US$2.5 billion) for 2016, a rise of 8.7% on the previous year.

Revenues for the company were also up by 6.5%, to CNY430 billion.

The value of CCCC’s new contracts across the year reached over CNY650 billion (US$94.3 billion), with new overseas contracts making up more than 30% of the total.

The company said it now has contracts for work in 140 countries and regions, where it is involved with 1,282 projects.