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People & Business :: Earnings/Finance

Sinopec’s chemicals business reports lower earnings

12:02 AM MDT | March 24, 2014 | Deepti Ramesh

Sinopec’s chemicals segment reports a 6.2% increase in revenues in 2013 compared with 2012, to 437.6 billion renminbi ($70.3 billion). Sales volume of chemical products grew by 7.6% in 2013 compared with 2012, but prices of chemical products dropped by 1.1%, Sinopec says. Operating profits for Sinopec’s chemicals segment decreased 26.3% compared with 2012, to Rmb868 million, mainly because of the fall in prices of chemical products, Sinopec says. Fourth-quarter figures for the chemicals segment have not been disclosed. Demand for chemicals continued...

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