China Gezhouba Group Company Limited, the country's leading hydroelectric works contractor, said that its net profit rose 16.66 percent for the first half this year.

Net profit totaled 691.75 million yuan (101.75 million U.S. dollars) and earnings per share stood at 0.301 yuan, down 0.33 percent year on year, the company said in a statement filed to the Shanghai Stock Exchange on Saturday.

The company said its revenues for the first six months grew by 38.81 percent from a year earlier to 16.33 billion, and revenues from project construction stood at 12.73 billion yuan, an increase of 33.46 percent.

During the first half, Gezhouba Group had signed construction contracts valued at 35.56 billion yuan, up 40.64 percent from the same period last year and 71.12 percent of the whole-year target, said the statement.

The company also said it had made progress in diversifying its market, demonstrated by a 327.86 percent increase in overseas projects contracts and a 28.59 percent growth in non-hydroelectric projects contracts signed in the first six months.

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