People & Business :: Earnings/Finance
Sinopec Shanghai Petrochemical swings into loss in the first nine months of this year
8:54 PM MDT | October 29, 2012 | Natasha Alperowicz
Sinopec Shanghai Petrochemical Co. has recorded a net loss of Rmb1.609 billion ($255.3 million) in the first nine months of this year. This compares with a net profit of Rmb1.652 billion in the corresponding period of 2011. Group operating income for the period amounted to Rmb69.15 billion, representing a drop of 6.22% over the corresponding period of 2011. "Overall production was smooth in the first three quarters of 2012. However, the company's overall economic returns underperformed due to factors in the international and domestic...
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