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March 23, 2014
16:54 EDTSNPSinopec reports FY13 net profit RMB66.1B vs. RMB63.9B in FY12
In accordance with the International Financial Reporting Standards, IFRS, in 2013, the company's turnover, other operating revenues and other income was RMB2,880.3B up 3.4% year-on-year, and operating profit was RMB96.8B, down 1.9% year-on-year. Profit attributable to equity shareholders of the company was RMB66.1B, up 3.5% year-on-year. Basic earnings per share were RMB0.57. In accordance with the PRC Accounting Standards for Business Enterprises, ASBE, in 2013, the company's operating profit was RMB96.5B, up 9.7% year-on-year. Net profit attributable to equity shareholders of the company was RMB67.2B, up 5.8% year-on-year. Basic earnings per share were RMB0.579. In 2013, capital expenditures were RMB 168.597B, a decrease of 7% against the budget made at the beginning of the year. The company added, "In 2014, we will continue to focus on the improvement of quality and efficiency, primarily for organic growth, and accelerate our structural adjustment by optimising company-wide and regional resources. Capital expenditure for the year is budgeted at RMB 161.6B, of which the exploration and production segment will account for RMB 87.9B, mainly for the Fuling shale gas and South Yanchuan coal bed methane demonstration projects, for development projects including Shengli, Northwest Tahe, Yuanba, the Daniudi gas field, the West Sichuan, overseas blocks and for construction of LNG and natural gas pipelines."
News For SNP From The Last 14 Days
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September 16, 2014
09:59 EDTSNPOn The Fly: Analyst Downgrade Summary
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07:50 EDTSNPSinopec downgraded to Market Perform from Outperform at Bernstein
Bernstein downgraded Sinopec as the firm was disappointed by the price the company received for its Marketing Co subsidiary. The firm also thinks that Sinopec's decision to acquire the petrochemical assets of Yizheng Company is misguided.
September 15, 2014
09:59 EDTSNPOn The Fly: Analyst Upgrade Summary
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09:24 EDTSNPSinopec upgraded to Hold from Underperform at Jefferies
September 14, 2014
21:37 EDTSNPSinopec sells RMB107B stake in Marketing Co subsidiary
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