China’s CSCI posts solid full-year results

China State Construction International (CSCI) has published its financial results for 2016, showing a 13.4% rise in net profits, compared with the previous year.

The net profit figure for the year stands at HK$5.13 billion (US$661 million), with a particularly strong showing in the second half of the year.

While gross profit grew 17% year-on-year, to HK$5.983 billion (US$771 million), the gross profit margin fell slightly, to 12.9%, from 13.5%.

CSCI also reported a healthy 21.6% rise in its revenue for the year, to HK46.21 billion (US$5.95 billion), again, with a strong recovery in the latter half of the year.

During 2016, CSCI said it had adopted an operating strategy of “prudent and innovative operation to expand its markets and manage its brand,” while it pursued its “dual core driving strategy of construction contracting and infrastructure investment,” so as to consolidate its business scale and brand advantages in construction industry in Hong Kong and Macau.