China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (493)	8/22/2003 10:36:38 PM
From: RealMuLan	Read Replies (1) of 6370

China Sinopec 1H Net Likely Doubled On High Crude Prices By Patricia Kuo Of DOW JONES NEWSWIRES sg.biz.yahoo.com HONG KONG (Dow Jones)--First-half net profit at China's largest crude oil refiner, China Petroleum & Chemical Corp. (SNP), or Sinopec Corp., likely more than doubled, buoyed by higher crude oil prices. In addition to a strong performance by its key exploration and production operations, the refining, marketing, and chemicals divisions of the company, should all record improved profitability in the six months ended June, analysts said. Sinopec should report Sunday a net profit of 10.95 billion yuan (US$1=CNY8.28) in the six months ended June, compared with CNY5.43 billion a year earlier, according to the average forecast of nine analysts in a Dow Jones Newswires survey. Net-profit forecasts range from DBS Vickers Securities' CNY9 billion to UOB Kay Hian's CNY12.5 billion. "I think this would be the first time all of the company's four divisions record decent growth," said BOC International Vice President Lawrence Lau.

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