Qilu Expressway (HKG:1576) recorded a 1.2% decline in net profit in the first quarter to 121 million yuan from 122.4 million yuan in the year-ago period, a Wednesday Hong Kong bourse filing said.
The firm attributed the lower profit mainly to increased depreciation, amortization, and financial expenses following the reconstruction and expansion of the Jihe Expressway.
The high-speed railway services company's revenue declined 14% to 492.4 million yuan in the quarter from 570.8 million yuan a year prior.
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