On August 27, China Petroleum & Chemical Corporation (“Sinopec Corp.” or "the Company") announced its interim results for the first half of 2018 in Hong Kong. Sinopec’s half year profit jumped to the highest level on record.
In accordance with the International Financial Reporting Standards (IFRS), the Company’s operating profit was 61.6 billion yuan in the first half of 2018, representing an increase of 56.6% year on year. Profit attributable to owners of the Company was 42.4 billion yuan, up 51.8% year on year. Basic earnings per share were 0.35 yuan.
The Company proposed an interim dividend of 0.16 yuan a share, a 60% increase from the previous year.