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Guangshen Railway Jan-Sept net profit down 5.14 pct on year

Posted on: Wed, 28 Oct 2009 22:43:00 EDT

Symbols: GSH

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BEIJING, Oct 28, 2009 (Xinhua via COMTEX) --
GSH | Quote | Chart | News | PowerRating -- Guangshen Railway Co. Ltd
(GSH.NYSE; 00525.HK; 601333.SH) reaped net profit attributable to
shareholders of 1.008 billion yuan in the first three quarters, up
3.75 percent year on year, the financial report published by the
railway company Thursday shows.

Its operating turnover totaled 9.018 billion yuan in the first
three quarters, registering a year-on-year growth of 3.75 percent.
The operating profit of the company totaled 1.261 billion yuan in the
period, down 2.73 percent year on year. The earnings per share (EPS)
of the company marked at 0.14 yuan in the period.

Guangshen Railway's operating turnover in July-September
amounted to 3.16 billion yuan, up 2.86 percent year on year. The
operating profit totaled 522 million yuan, rising 9.55 percent year
on year. The net profit attributable to parent company totaled 417
million yuan, up 6.35 percent year on year. The EPS in the period
marked at 0.06 yuan.

The railway company said that its businesses were affected by
the decline of railway transportation demand due to the international
financial turmoil and the spread of the A/H1N1 flue.

The company managed to have a slight growth in operating
turnover in the first three quarters through adjusting transportation
and promoting sales. But as the operating scale of the company turned
larger, the operating cost also saw a rise.

But along with the recovery of the economy, China's railway
transportation demand is rebounding gradually. Guangshen Railway
therefore obtained a positive growth of net profit in the third
quarter.

Guangshen Railway meanwhile disclosed that it plans to issue
five-year term notes of four billion yuan, which has already been
approved on the general shareholders' meeting of 2008. The issuance
is under preparation at present.

The following is a table showing Guangshen Railway's main
business indicators for the first three quarters of 2009:
Jan.-Sept. (2009)
Jan.-Sept. (2008)
Earnings per share (yuan)
0.14
0.15
Net assets per share (yuan)
3.22
3.14
Return on net assets (%)
4.41
4.78
Main operating turnover (million yuan)
9,017.5727
8,691.7956
Net profit attributable to group (million yuan)
1,007.8459
1,062.4102

For full details on Guangshen Railway Co (GSH) GSH. Guangshen Railway Co (GSH) has Short Term PowerRatings at TradingMarkets. Details on Guangshen Railway Co (GSH) Short Term PowerRatings is available at This Link.

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