(MENAFN- Qatar News Agency) Beijing September 01 (QNA) - China's top maker of construction gear SANY Heavy Industry has posted a net profit drop of 48.34% for the first half of 2014 compared to the same period of the previous year. With a net profit of 1.37 billion yuan about (222.9 million U.S. dollars) the company registered a business revenue of 19.72 billion yuan ($3.1 billion) in the first six months according to a statement it filed to the Shanghai Stock Exchange. The revenue declined 10.7% compared to the same period last year said SANY. It attributed the profit and revenue drops to "market adjustment" without giving detailed reasons. The performance could also be attributed to a surge in financing expenditures which jumped 156.58% year-on-year in the first half according to China's (Xinhua) News Agency. (QNA)
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