Sinopec H1 Net Profit Increases 24%
China Petroleum & Chemical (NYSE: SNP) reported a 24% rise in its first-half net profit.
Sinopec's net profit for the six months surged to 30.28 billion yuan ($4.95 billion), from CNY24.50 billion, in the year-ago period.
Its revenue gained 5.2% to CNY1.42 trillion from CNY1.35 trillion. It posted an operating profit of CNY213 million, versus a year-earlier operating loss of CNY18.5 billion.
Sinopec shares closed at $75.07 on Friday.
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