Home / Knowledge / News / Textiles / PetroChina H1 income down 34.5% despite sales increase
PetroChina H1 income down 34.5% despite sales increase
25
Sep '08
PetroChina Company Limited announced that according to International Financial Reporting Standards (“IFRS”), the Company recorded consolidated net profit attributable to equity holders of the Company of RMB53.62 billion for the six months ended 30 June 2008, representing a decrease of 34.5% compared to the same period last year.

Earnings per share was RMB0.29, approximately RMB0.17 lower than that for the same period last year. The Board of Directors of the Company proposed to pay an interim dividend of RMB0.131827 per share, based on 45% of the interim net profit attributable to equity holders of the Company for six months ended 30 June 2008.

Mr. Zhou Jiping, Vice Chairman and President of PetroChina, indicated that since the beginning of this year, in the face of macro-environment changes both at home and abroad, PetroChina has firmly adhered to the policy of placing development as its top priority.

The Company will continue to implement the three main strategies in the areas of resources, marketing and internationalisation of operations.

PetroChina overcame the difficult operating environment amidst natural disasters of icy snow in parts of China as well as a severe earthquake in Sichuan province and ensured stability with its production and operating activities.

The Company's financial performance was adversely affected by factors including the increase of special levy on domestic oil production, refined products prices below the international level and the hike in raw materials cost.

However, the Company has been able to maintain a healthy and stable development in production and operations with stringent management initiatives, structural optimization, technical innovation and improved efficiency.

Click here to view more:

PetroChina Company Limited


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search