icbc & CMES news
ICBC (601398) expects first-half net profit to grow by
more than 50 pct
Industrial & Commercial Bank of China, said in a statement today that it estimated its first-half net
profit would rise by more than 50 percent due to strong growth in various kinds of businesses.
ICBC, the world's biggest by market value, said that income from various businesses such as net
interest income, net fee and commission income recorded rapid growth during the first six
months of this year. The lender's profit for the same period last year was 40.84 billion yuan, or
China Merchants Energy (601872) expects six-month net
income to hike by more than 80 pct
China Merchants Energy Shipping Co said in a statement today that it expects to post a net profit
growth of more than 80 percent for the first six months of this year. The energy shipping firm said
that its net profit was 470 million yuan for the first half of 2007, or 0.14 yuan per share. The
earnings increase was due to the increased freight rates at its oil and bulk container fleet as well
as a sale of two vessels with an income of 120 million yuan. The company also said it has
controlled costs in an effective way under the background of hiking fuel prices.
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