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China's CSR 2011 net profit surges 53%

Updated: 2012-03-31 13:25

(Xinhua)

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BEIJING - China South Locomotive & Rolling Stock Co Ltd (CSR), the country's largest train maker, said on Friday that its net profit jumped 52.96 percent year-on-year to 3.86 billion yuan ($614 million) in 2011.

CSR attributed its profit growth to advanced technologies and strong overseas demand, according to the company's annual report filed with the Shanghai Stock Exchange.

The company's business revenue amounted to 80.71 billion yuan, an increase of 23.92 percent from one year earlier.

Its earnings per share stood at 0.33 yuan last year, compared with 0.21 yuan in 2010.

The company's Board of Directors proposed a pre-tax cash dividend of 0.18 yuan per share pending on shareholder's approval.