China State Construction 2013 net profit up 30 pct

China State Construction 2013 net profit up 30 pct

Trumps forecast due to large scale projects on mainland.

China State Construction International Holdings Limited announced its 2013 annual results today. For the year ended 31 December 2013, the Group’s audited profit attributable to the owners of the Company was HK$2,772 million, representing an increase of 30.1% as compared to last year. The revenue was HK$27,192 million, representing an increase of 24.1% as compared with the same period of last year, however The company forecast a decline in government spending on infrastructure this year, as China’s economic growth slows, but said it expected construction of mass-market housing to remain robust, stating

Optimism continues to grow over the construction markets in Hong Kong and Macau in 2014 in respect of the number of new construction projects, employment rate and profit forecast.

In 2013, the construction industry in Hong Kong and Macau remained strong and improved steadily with the launch of government projects. Upon further implementation of the Ten Mega Infrastructure Projects in Hong Kong, a number of large-scale and outsize civil engineering projects as well as building construction projects commenced.  while the construction market in Macau was robust due to the commencement of major hotel and government projects. In the PRC market, economic growth has slowed down and the government economic policy has shared more effort on the quality of growth and efficiency. New urbanisation will be the next driving force for succeeding economic growth.

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