China Communications Construction : First-Half Net Profit Slumped 37%

By Ronnie Harui

China Communications Construction Co.'s net profit fell 37% in the first half of the year due to factors such as the suspension of work and production of some projects amid the Covid-19 pandemic.

Net profit declined to 5.52 billion yuan ($801.2 million) from CNY8.78 billion a year earlier. Revenue rose to CNY245.41 billion from CNY239.46 billion a year ago, the company said in a Hong Kong exchange filing Friday.

For the second half of 2020, there is a possibility of the pandemic's resurgence, which would have a big impact on the business operations of all enterprises, the company said.

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