Sinopec's profit jumps to US$5b
Source: Xinhua |
August 23, 2010, Monday
|
Print Edition
Print Edition
SINOPEC, China's top refiner, said yesterday its net profit in the first half of this year rose 6.7 percent to 35.46 billion yuan (US$5.2 billion) from a year earlier.
In a filing to the Hong Kong stock exchange, Chairman Su Sulin said Sinopec's turnover and other operating revenues amounted to 936.5 billion yuan, and operating profit was 49.8 billion yuan, representing a jump of 75.4 percent and 7.8 percent respectively, over the same period of 2009.
The Beijing-based refiner attributed "encouraging operational results" in the first half to steady progress of China's economic recovery, growing demand for petroleum and petrochemical products, continued expansion of Sinopec's operational scale and rising prices of crude oil, refined oil products and chemical products.
According to the statement, Sinopec's refinery throughput reached 101 million tons in the first half - an annual increase of 16.7 percent.
Refining and marketing and distribution achieved sales revenue of 567 billion yuan, an increase of 59.7 percent annually.
The two segments accounted for 60.5 percent of Sinopec's turnover and other operating revenues, it said.
In a filing to the Hong Kong stock exchange, Chairman Su Sulin said Sinopec's turnover and other operating revenues amounted to 936.5 billion yuan, and operating profit was 49.8 billion yuan, representing a jump of 75.4 percent and 7.8 percent respectively, over the same period of 2009.
The Beijing-based refiner attributed "encouraging operational results" in the first half to steady progress of China's economic recovery, growing demand for petroleum and petrochemical products, continued expansion of Sinopec's operational scale and rising prices of crude oil, refined oil products and chemical products.
According to the statement, Sinopec's refinery throughput reached 101 million tons in the first half - an annual increase of 16.7 percent.
Refining and marketing and distribution achieved sales revenue of 567 billion yuan, an increase of 59.7 percent annually.
The two segments accounted for 60.5 percent of Sinopec's turnover and other operating revenues, it said.
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