China’s Jiangsu Expressway net up 40.47%
Jiangsu Expressway, said net profit increased by 40.47% to RMB 1.64 billion under Chinese accounting standards, on higher vehicle traffic on its toll roads.Its revenue was up 29.1% to RMB 5.07 billion. Earnings per share amounted to RMB 0.318, up from RMB 0.226 a year ago. “The group’s major toll roads and bridges maintained a solid state of operations,” Chairman Shen Changquan explained.
The company proposed a final dividend of RMB 0.27 per share, up from RMB 0.19 a year earlier.
The company said operating revenue in 2007 advanced 29.48% to RMB 5.31 billion. The average daily toll income on the eight-lane Shanghai-Nanjing Expressway, the firm’s core asset, amounted to RMB 935 million, up 33.05%. Toll income reached RMB 4.22 billion, accounting for 79.55% of the toll-road operator’s core revenue.
Related:
Jiangsu Expressway Company Limited (the “Companyâ€) was incorporated in August 1992, registered capital of which is RMB 5,038 million at present, and it is principally engaged in the investment, construction, operation and management of some toll expressways within Jiangsu province. The Company core asset is the Jiangsu section of the Shanghai-Nanjing Expressway, and still has all or some equity interests of toll roads and bridges within Jiangsu province, including: the Shanghai-Nanjing section of G312, Xicheng Expressway, Guangjing Expressway, the Nanjing section of the Nanjing-Lianyungang Expressway, the Jiangsu section of the Sujiahang Expressway and Jiangyin Yangtze River Bridge, etc. The mileage of highways that the Company manages has already exceeded 700 km at present, and total assets are about RMB 25 billion. The Company becomes one of the largest asset-scale domestic listed companies in the trade.
Tags: traffic