Sinopec ethylene output, operating revenues and income increase in 2006

11-Apr-07

Following the guidelines of 'reform, restructuring, innovation and development,' Sinopec has further expanded its operations, improved asset quality, enhanced its profitability and this has resulted in an achievement significant growth and earnings. As per the annual results announced by China Petroleum & Chemical Corporation (Sinopec) for the twelve months ended 31 December, 2006, the company has recorded an increase in ethylene output, operating revenues and income increases in 2006. Ethylene output is up by 15.9% yoy in 2006 The company's income from principal operations was RMB 50.66 bln (US$6.36 bln), up 28.08% compared with the same period of 2005. Income from principal operations was RMB 1,044.58 bln (US$131.21 bln) in 2006, an increase of 30.72%. Net profit was RMB 50.66 bln (US$6.36 bln), up 28.08% compared with the same period of 2005. The Company's turnover with other operating revenues and income, was RMB 1,076.40 bln (US$135.21 bln) in 2006, an increase of 29.27% compared to 2005. Profit attributable to shareholders was RMB 53.91 bln (US$6.77 bln), an increase of 30.05% compared to last year.