Sinopec Nine-month Profit Up

(RTTNews) - China Petroleum & Chemical Corp., or Sinopec Corp (SNP), Tuesday said in accordance with the China Accounting Standards for Business Enterprises, net profit attributable to equity shareholders for the nine-month period was RMB 51.6 billion, up 23 percent from last year. On a per share basis, basic earnings were RMB 0.445, up 19.6 percent over the same period of last year.

In accordance with the International Financial Reporting Standards, profit attributable to equity shareholders of the company was up 22.1 percent to RMB 52.3 billion for the first three quarters. On a per share basis, basic earnings were RMB 0.451 for the nine-month period. IFRS operating profit was RMB 78.29 billion, up 14.7 percent over the same period of last year. Turnover and other revenue in the first three was RMB 2139.9 billion, an increase of 5.7 percent from last year.

Sinopec said the domestic demand for oil products and chemical products continued to grow. The company's capital expenditure amounted to RMB 86.95 billion in the first three quarters of 2013.