Sinopec 2018 Net Profit Up 20.2%

(RTTNews) - China Petroleum & Chemical Corp. (SNP) or Sinopec reported that its 2018 IFRS profit attributable to equity shareholders of the Company up 20.2 percent to RMB 61.62 billion from RMB 51.24 billion last year. Earnings per share were RMB 0.509 compared to RMB 0.423 last year.

IFRS Operating profit was RMB 82.26 billion, increased by 15.1 percent year on year. Turnover and other operating revenues rose 22.5 percent to RMB 2.89 trillion.

In accordance with ASBE, Profit attributable to shareholders of the Company was RMB 63.1 billion, up 23.4 percent year-on-year. Basic earnings per share were RMB 0.521. Operating profit was RMB 101.5 billion, up 16.7 percent year-on-year.

The Board of Directors proposed a final dividend of RMB 0.26 per share. Combined with the interim dividend of RMB 0.16 per share, the total dividend for the year is RMB 0.42 per share. Dividend payout ratio and dividend yield reached 82.5% and 7.4%, respectively.