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People & Business :: Earnings/Finance
Sinopec’s chemicals business loss widens
8:17 AM MDT | August 26, 2014 | Deepti Ramesh
Sinopec’s chemicals business reports an operating loss of 3.96 billion renminbi ($645 million) in the first six months of 2014 compared with a loss of Rmb409 million in the first six months of 2013 due to fierce competition in the domestic market and lower chemical product prices, the company says. The chemicals segment reports a 0.9% rise in sales in the first half of 2014, to Rmb213.4 billion, mainly due to an increase in sales volume, Sinopec says. Chemicals sales volume increased by 4.1% compared with the first half of 2013, to 29.2 million m.t....
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