Listed Firms 1H Earnings Up 11%
The 2,489 companies listed in China reported 12.8 trillion yuan in revenues and 1.14 trillion yuan in net profits for 1H 2013, up 8.5% and 11.2% respectively from a year earlier. If the oil producers and banks were taken out, the remaining 2,435 companies' profit would have been up 4.6% to just 373.31 billion yuan.
Chalco 1H Loss Narrows
Aluminum Corp of China Ltd (NYSE: ACH, HKG: 2600, SHA: 601600) said its losses contracted significantly to 624 million yuan in 1H 2013 from 3.25 billion yuan a year earlier after it reduced raw material and production costs. Despite effective cost control China's biggest aluminum producer was still in the red as its alumina and primary aluminum selling prices both fell more than 7% during the 6-month period. Revenue was up 6.9% year on year to 76.6 billion yuan.
Eastern Airlines Posts 763 Million Yuan in 1H Earnings
China Eastern Airlines Corp (NYSE: CEA, HKG: 0670, SHA: 600115), the nation's second biggest carrier by passenger traffic, posted 41.48 billion yuan in revenues and 763 million yuan in net profits for 1H 2013. Revenue was up 2.7% from a year earlier, and no comparison was given for earnings. The airline operated 330,000 flights flying 38 million passengers in 1H 2013.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..