Sinopec earn­ings jump 44pc

New Straits Times - - Business World -

SHANG­HAI: State-owned en­ergy gi­ant Sinopec said last year’s net profit jumped 44 per cent, its first an­nual profit rise in three years, as strong de­mand and bet­ter mar­gins in its down­stream re­fin­ing busi­ness helped off­set low oil prices. Sinopec, a listed unit of China Petro­chem­i­cal Corp, said net profit surge to 46.7 bil­lion yuan (RM30 bil­lion). It also fore­cast profit would in­crease in the first quar­ter of this year.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.