Sinopec Shanghai Petrochemical (00338) said its net profit attributable to equity shareholders for the first nine months of 2016 rose 83.91% year-on-year to Rmb4,130 million, mainly due to a significant fall in the cost of major raw materials, and increase in gross profit of products.
Basic and diluted earnings per share were Rmb0.382.
The revenue was Rmb54,585 million, a decrease of 11.33% from a year earlier.
For the third quarter of 2016, Shanghai Petrochemical's net profit attributable to equity shareholders surged 101% year-on-year to Rmb1,033 million.
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