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Profits of 2,027 Listed Chinese Companies Rise 11.41% in H1.

Beijing, August 28 (BNA) - Net profits of the 2,027 listed companies rose 11.41% year-on-year to US $99 billion (612.43 Billion Yuan) in the first half of the year and are forecast to touch 12% when the rest of 462 firms declared their first-half returns, according to a stock markets journal. The companies, which disclosed their first half business reports, account for more than 80% of the total listed firms in the Shanghai and Shenzhen markets, the China Securities Journal reports.

Profits of the listed firms began climbing since the first quarter of the year.

This was compared to a 1.51-percent profit drop in the first half of 2012, the report said, citing data from Wind Information Company, a Shanghai-based financial data service provider.

The rebound of product prices and a warming business climate contributed to the profit increase, with public services, transport, electronics, real estate and household appliances reporting rises of more than 30 percent in gains, the report said.

With 462 companies yet to disclose their first-half business reports, the Wind Info forecast net profits of China's total listed firms to grow around 12% in the January-June period, the report said.

The total business revenues of the 2,027 companies amounted to 7.76 trillion yuan, up 9.14% year-on-year, according to the report.

EM

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Publication:Bahrain News Agency
Geographic Code:9CHIN
Date:Aug 28, 2013
Words:237
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