China's XCMG posts soaring business revenue in 2009
XCMG Construction Machinery CO Ltd (XCMG), China's largest construction machinery maker, said its business revenue in 2009 surged 30.3 percent year on year to nearly 20.7 billion yuan ($3 billion).
In its annual report of 2009 to the Shenzhen Stock Exchange, the company said its 2009 net profit reached 1.74 billion yuan, up 16.4 percent year on year. The earnings per share stood at 2.01 yuan, compared to 1.72 yuan per share in 2008.
The Jiangsu-based company attributed rising profits to its focus on domestic market, technological innovations, asset regroup as well as overseas expansion.
