Sinopec Corp. announces 2018 first quarter results

Source Company Press Release
Company Sinopec Corp.
Tags Corporate: Overview/Strategy, Country: China
Date April 27, 2018

On April 26, China Petroleum & Chemical Corporation (“Sinopec Corp.” or the “Company”) announced its unaudited results for the three months ended 31 March 2018.

In accordance with the International Financial Reporting Standards (IFRS), the Company’s operating profit was RMB 29.218 billion, up 14.9% year-on-year. Net profit attributable to owners of the Company was RMB 19.306 billion, increased by 12.3% year-on-year. Basic earnings per share (“EPS”) were RMB 0.159, increased by 12.0% year-on-year.

The Company pursued supply-side structural reform as main task, focused on improving the quality and efficiency of our operations, upheld the policy of Reform, Management, Innovation and Development, and strengthened efforts on cost reduction, market expansion, structural adjustment, reform promotion, management reinforcement, which helped deliver solid operating results.

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