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Business Digest

PUBLISHED : Monday, 27 August, 2012, 12:00am
UPDATED : Monday, 27 August, 2012, 5:05am

Haitong Securities profit falls to 2b yuan

Haitong Securities, the mainland's No5 brokerage by market share, says net profit shrank 9.36 per cent to 2.02 billion yuan (HK$2.47 billion) in the first six months of this year on the back of a sluggish market. Revenue declined 1.79 per cent to 5.84 billion yuan, dragged down by a 23.48 per cent drop in commission and fee income to 2.82 billion yuan in the first half, it said yesterday. Staff Reporter

Greentown earnings double in first half

Greentown China Holdings, a Hangzhou-based property developer, saw its net profit double to 1.81 billion yuan in the first half from 892 million yuan a year earlier despite macroeconomic tightening. Earnings per share increased 101.9 per cent to 1.09 yuan while sales rose 12.3 per cent to 12.6 billion yuan. Charlotte So

Chalco plunges to loss on weaker demand

Aluminum Corp of China, the world's third-largest smelter of aluminium , plunged into a 3.25 billion yuan net loss in the first six months of this year from a 413 million yuan net profit a year earlier due to weak demand and higher costs. The firm, known as Chalco, said finance costs soared 50.9 per cent to 2.25 billion yuan. Staff Reporter

Shanghai bakery's first half undercooked

Shanghai-based bakery chain operator Christine International, which went public in Hong Kong in February, tumbled into a net loss of 18.78 million yuan in the first half of this year from a net profit of 16.94 million yuan a year ago. It said it planned to improve its product mix and sourcing materials to turn around the loss. Turnover was 6 per cent higher at 595 million yuan. Staff Reporter

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