19 November 2018

Sinopec Shanghai Petrochem back in black in 2013, filing says

Sinopec Shanghai Petrochemical Co. Ltd. (00338.HK, 600688.CN) expects to post a 2 billion yuan (US$330.43 million) net profit for 2013, compared with a 1.54 billion yuan net loss a year earlier, according to a stock exchange filing Wednesday. The company attributed its return to the black to the lower cost of buying crude oil and greater production capacity in oil products, adding that its performance this year is projected to be on par with the 2013 result.

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