Guangshen Railway Company Ltd., one of China's major railway operators, said Thursday its 2009 net profit rose 12.01 percent year on year.
Net profits hit 1.36 billion yuan (198.68 million U.S. dollars) last year on revenue of 12.39 billion yuan, which was up 5.96 percent from 2008, said its annual report filed with the Shanghai Stock Exchange.
Earnings per share rose 11.76 percent to 0.19 yuan.
The Shenzhen-based company attributed its profit growth to rising revenue from passenger transport, which was up 6.46 percent year on year to 7.2 billion yuan.
But the company saw its freight transport revenue drop 8.65 percent to 1.21 billion yuan last year as the global financial crisis hit the economic development of the Pearl River Delta where the company provides most of its freight transport services.
The company's stock rose 0.95 percent to 4.25 yuan per share Thursday.
