China Railway Construction's Profit Drops 15%, Revenue Slips 6% in 2024; Hong Kong Shares Down 6%

MT Newswires Live03-31

China Railway Construction's (HKG:1186, SHA:601186) net profit attributable to shareholders in 2024 dropped 15% to 22.2 billion yuan from 26 billion yuan a year earlier, according to a Hong Kong Stock Exchange disclosure on

Earnings per share declined 16% year on year to 1.46 yuan from 1.73 yuan, missing Visible Alpha estimates of 1.69 yuan.

The construction company's revenue slipped 6.2% to 1.067 trillion yuan from 1.138 trillion yuan in the previous year. The current figures were lower than VA analysts' projection of 1.082 trillion yuan.

The board of directors proposed a cash dividend of 0.30 per share to be paid on or before Aug. 31 to shareholders after the proposal is approved at the upcoming annual general meeting.

The company's Hong Kong shares dropped 6%, while Shanghai shares slipped less than 3% in recent trade.

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