Broker's net surges
Source: Xinhua |
April 21, 2010, Wednesday
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Print Edition
Print Edition
CHINA Merchants Securities Co Ltd, a major brokerage, yesterday announced its net profit surged 84.48 percent annually in 2009, driven by an economic rebound in the country.
The net profit of the Shenzhen-based broker was 3.73 billion yuan (US$546.48 million) in 2009. Its revenue rose 76.53 percent year on year to 8.68 billion yuan in 2009, it said in its annual report.
Earnings per share stood at 1.14 yuan, up 80.95 percent from a year earlier, the report said.
The Shanghai-listed brokerage attributed the increase in its profit last year to the upward trend of the A-share stock market in 2009 together with the rebound in China's economy.
As of 2:40pm, the shares of China Merchants Securities were down 0.15 percent to 26.61 yuan per share despite the profit announcement.
The net profit of the Shenzhen-based broker was 3.73 billion yuan (US$546.48 million) in 2009. Its revenue rose 76.53 percent year on year to 8.68 billion yuan in 2009, it said in its annual report.
Earnings per share stood at 1.14 yuan, up 80.95 percent from a year earlier, the report said.
The Shanghai-listed brokerage attributed the increase in its profit last year to the upward trend of the A-share stock market in 2009 together with the rebound in China's economy.
As of 2:40pm, the shares of China Merchants Securities were down 0.15 percent to 26.61 yuan per share despite the profit announcement.
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