China Communications Con says H2 net up 18 pct

HONG KONG, April 14 (Reuters) - China Communications Construction (1800.HK), the country's top builder of highways and ports, posted an 18 percent rise in second half earnings as margins improved on lower raw material prices.

China Communications, which competes with China Railway Construction (1186.HK) and China Railway Group (0390.HK), reported a net profit of 3.88 billion yuan ($568 million) for the six months ended December against 3.29 billion yuan the same period a year ago.

The result, calculated from previously reported half year earnings, lagged an average forecast of 4.0 billion yuan by 16 analysts polled by Reuters estimates.

Full-year net profit edged up 0.7 percent to 6.08 billion yuan in 2008, the company said in a statement.

Shares in the company fell 28 percent in the second half of 2008, compared with a 35 percent drop on the blue chip Hang Seng Index .HSI and a 34 percent loss on the index for major Chinese companies listed in Hong Kong .HSCE. ($1=6.829 Yuan)

(Reporting by Alison Leung; Editing by Jacqueline Wong)