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Sinopec Posts Loss In H1

China Petroleum & Chemical Corp. or Sinopec Corp. (SNPMF.OB,SNP) reported first-half net loss of RMB 22.9 billion compared to a profit of RMB 31.3 billion last year. On a per share basis, loss totaled RMB 0.189 versus a profit of RMB 0.259 in the prior year period.

Net loss attributable to equity shareholders of the company was RMB 24.4 billion or RMB 0.202 per share versus a profit of RMB 30.5 billion or RMB 0.252 per share earned a year ago.

Turnover and other operating revenues for the period amounted to RMB 1,034.2 billion, 31% lower than the previous year's RMB 1,498.9 billion.

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