Sany's First-Half Profit Halves Amid Weaker Demand for Heavy Machinery
Yicai Global
/SOURCE : Yicai
Sany's First-Half Profit Halves Amid Weaker Demand for Heavy Machinery

(Yicai Global) Aug. 30 -- Sany Heavy Industry Co. [SHA:600031], China's largest heavy machinery maker, said first-half profit almost halved from a year earlier because of lower investment growth and weaker demand in the engineering machinery industry.

Net profit was CNY138 million (USD20.7 million) in the six months ended June 30, the Beijing-based company said in a statement. Operating income fell 18.5 percent to CNY11.22 billion, while international revenue hit CNY4.61 billion, accounting for almost 42 percent of its core income.

Follow Yicai Global on