Sinopec's net profit up 332.8% in H1

China Petroleum and Chemical Corporation (Sinopec) said Sunday its net profit in the first half of 2009 rose by 332.8 percent year-on-year, due to adjusted refined oil prices on the domestic market.

Under international accounting rules, Sinopec's net profit totaled 33.25 billion yuan ($4.87 billion) in the first half with earnings per share rising by 0.294 yuan to 0.383 yuan, the company said in a statement to the Shanghai and Hong Kong stock markets.

Source: BizChina