China's CITIC Sec says 2012 profit fell about 66 pct

SHANGHAI Wed Jan 23, 2013 5:49am EST

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SHANGHAI Jan 23 (Reuters) - CITIC Securities Co Ltd , China's biggest listed brokerage, warned on Wednesday that 2012 earnings fell about 66 percent from a year earlier.

Net profit fell to 4.26 billion yuan ($691.34 million) from 12.58 billion yuan a year earlier, CITIC said in an unaudited earnings statement, without elaborating.

Trading commission incomes and investment banking revenues shrank at Chinese brokerages last year as many investors stayed on the sidelines while many companies delayed or cancelled share sales due to a volatile stock market. ($1 = 6.2198 Chinese yuan) (Reporting by Jason Subler and Samuel Shen; Editing by Kazunori Takada and Pete Sweeney)

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