China State Construction International Holdings Limited Announced its 2014 Interim Results

2014.08.14


(14 August 2014) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) announced its 2014 interim results today. For the six months ended 30 June 2014, the unaudited profit attributable to owners of the Company was approximately HK$1,465 million, representing an increase of 24.9% as compared to the same period last year. The revenue was approximately HK$14,259 million, representing an increase of 23.9% as compared with the same period last year. Basic earnings per share increased by 24.8% to HK37.66 cents. The Board declared the payment of an interim dividend of HK11.00 cents per share.

In the first half of 2014, the Hong Kong and Macau market continued to prosper. Taking the advantages of the booming market, the Group’s construction business has become prosperous with several business expansions achieved. The value of contracts newly signed in the first half of the year amounted to HK$19,200 million. While the Group continued to follow the Ten Mega Infrastructure Projects in Hong Kong, it also opted for high-end premium projects as main focus. For the sizeable and complicated projects, the Group fully exerted its internal synergistic effect with an emphasis on a profit-oriented approach as well as appropriate resource allocation, so as to maintain a positive and sustainable development.

In Mainland China, new urbanisation investment was still the driving force for economic growth. The Group continued to focus on the businesses in affordable housing and infrastructure projects. Both sectors had experienced significant horizontal expansion to new strategic growth, with existing projects progressed successfully as planned.

In the second half of the year, the Hong Kong and Macau economy will maintain the upward momentum from the first half, while Mainland China’s economy has entered medium-high tier growth. The relevant structural adjustments derived from “domestic consumption-driven economy” will accelerate projects such as shanty town redevelopment and railway construction, which can certainly offer many investment opportunities for the Group. With the introduction of affordable housing related policies such as the trial for shared property right housing, and the advocacy of the application of residential industrialisation, great potentials are presented to the development of residential industrialisation.

The Group shall precisely act on the macro-economic trend, formulate forward-looking operational strategies, improve market judgment and adaptability, and steadily confront the external changes in operation environment. Committed to the operation strategy of “Cost-effective Competition and High-quality Management”, the Group endeavors to achieve the strategic transformation from a sole contractor towards an integrated international contractor with comprehensive development in both construction and relevant investments, so as to further strengthen its corporate value and market competitiveness.