Sinopec sees profits surge

Tan, Florence
April 2007
ICIS Chemical Business;4/23/2007, Vol. 2 Issue 63, p13
Trade Publication
The article reports that SINOPEC, an ethylene producer, reported overall net profit of yuan (CNY) 19.4bn ($2.5bn, €1.85bn) on higher sales volumes. The company almost doubled its operating profit in the first quarter of 2007. Earnings before interest and taxes (EBIT) rose by 91.6% to CNY29.5bn. Sinopec's chemicals capital expenditure reached CNY17bn in the first quarter.


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