Strong HK and overseas orders and accelerating domestic infrastructure spending drive CSCI's growth.
A HKD 1.1 billion fair value gain drove first-half 2016 net income up 20% year on year to HKD 2.2 billion at narrow-moat China State Construction International, or CSCI, while revenue rose by a lower-than-expected 11% year on year to HKD 18 billion, as a result of equity accounting for a larger portion of projects. Excluding one-off items, the recurring net income of HKD 1.15 billion dropped by 28% as margins declined on unfavorable sales mix toward lower-margin affordable housing projects and d...China State Construction International Holdings is an investment holding company and provides corporate management services. Through its subsidiaries and associated companies, Co. is engaged in the construction business, project consultancy services, thermoelectricity business, infrastructure project investments, toll road operation, precast structures business, facade contracting business, the manufacture and sale of ready-mixed concrete, property management and the operation of slaughterhouse. As of Dec 31 2014, Co. conducted its businesses through the following reportable segments: Hong Kong, Mainland China, Macau, Overseas and FEG Group.
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