China State Construction posts $344 mln H1 net profit

Published: 25 Aug 2009 16:14:12 PST

SHANGHAI, Aug 26 - China's biggest homebuilder, China State Construction Engineering Corp <601668.SS> said on Wednesday that its attributable net profit reached 2.35 billion yuan ($344 million) for the first half of this year.

The company's sales revenue was 111.3 billion yuan for the first half, it said in a note to the stock exchange. The firm raised $7.3 billion in a Shanghai listing last month, the world's biggest initial public offering this year.

CSCEC Chaiman Sun Wenjie told reporters last month that the company's sales in the first half of this year totalled 112.4 billion yuan and that he expects the firm's sales to reach 300 billion yuan next year.