(MENAFN) SANY Heavy Industry, China's top construction gear maker, registered a drop of its net profit in the January-June period, a decline of 48.34 percent, Xinhua reported.
The firm's net profit dropped to USD222.9 million in the period, while its business revenue reached USD3.19 billion for the first six months of the year, the company said.
The Chinese multinational heavy machinery manufacturing company attributed the profit and revenue drops to "market adjustment", not providing any further detailed reasons.
However, SANY is optimistic about its growth rates in the second half of the year, led by improvement in the country's regional, industrial and urban-rural structure.
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