Sinopec H1 Net Profit Down 41%

China Petroleum & Chemical

posted a 41% drop in its first-half earnings. Sinopec's net profit for the period declined to 24.50 billion yuan ($3.85 billion), versus CNY41.17 billion, in the year-ago period. Its revenue climbed 9.3% to CNY1.348 trillion, versus CNY1.233 trillion. Sinopec shares closed at $93.30 on Friday.