1,181 listed firms post 48% rise in net profit

08:14, October 28, 2010      

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A total of 1,181 publically listed companies that have released the third quarter report posted total revenue of 2.74 trillion yuan ($410 billion), up 34.35 percent year-on-year, according to the statistics from the China Securities Journal.

These listed companies achieved 249.98 billion yuan of operating profit and 197.7 billion yuan of net profit, rising 44.59 percent and 48 percent, respectively.

In the first three quarters, the 1,181 companies saw much smaller cash flow than same time a year earlier. 1,172 non-financial companies reported net cash flow of 119.84 billion yuan, down 49 percent from the previous year.

So far, 441 A-share companies have given forecasts of their full-year performance. Among them, 115 companies predicted their net profits to rise by over 50 percent, with another 165 companies forecasting a less-than-50-percent increase in net profit. 47 firms have reported continued profits, and 31 expected to turn losses into gains over the course of the year.

Source: China Daily


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