CNPC net profit soars in first half
China National Petroleum Corp, China’s largest oil producer and supplier, said its net profit is 16 times higher than expected during the first half of 2017, reaching nine billion ($1.33 billion) to 11 billion yuan. According to an earnings preannouncement released by the company on Wednesday, net profit during the first six months of this year rose 1,600 percent to 1,986 percent compared with the same period last year, which was 528 million yuan. The company contributed the drastic boost to a moderate recovery of world economy and the increased international oil price. The company’s optimizations of manufacturing operation and expenditure reduction during the first six months also helped, it said. mainland. The high-end unit of Walmart has planned to invest 1 billion yuan ($148 million) in the next 18 months to develop merchandises that help members to save spending. Sam’s club has 16 stores in 13 cities in China, with 1.8 million members. The new stores will mostly be located in first and secondtier cities. with no holiday period in the prior year comparative. Easter fell in April this year, but it was in March last year. The airline said it still expects full-year profit to fall between 1.4 billion euros and 1.45 billion euros. Ryanair said it remains concerned at the uncertainty which surrounds the terms of the UK’s departure from the European Union in March 2019. quarter a year ago because of the $3.5 billion termination penalty from its failed takeover of Houston rival Baker Hughes. In the news release published on Monday, President and CEO Jeff Miller said that total company revenue this quarter was $5 billion, representing a 16 percent increase compared to the first quarter of this year, while total adjusted operating income was $408 million. He stressed these results were primarily driven by continued strengthening of market conditions in North America, which were partially offset by pricing pressure internationally. to April, and by 7.6 percent on an annual basis. The average turnover of the last three months compared to the previous quarter also increased by 0.9 percent, said ISTAT. Metallurgy, production of computer, electronics and optical goods, and vehicle production were sectors showing the highest annual growth in May, increasing by 14.1 percent, 12.1 percent, and 10.9 percent respectively, it said. Industrial orders in May registered a significant increase as well. The seasonally-adjusted new orders index rose by 4.3 percent compared to April. On an annual basis, new orders increased by 13.7 percent, according to ISTAT.