Sinopec 2012 profit falls 12.8 pct, in line with forecast
HONG KONG, March 24
HONG KONG, March 24 (Reuters) - China Petroleum and Chemical Corp (Sinopec Corp) posted a 12.8 percent fall in its 2012 net profit on Sunday, roughly in line with forecasts, hit by a drop in revenues from its upstream and chemicals businesses.
Asia's largest refiner and China's second largest oil and gas company booked a net profit of 63.88 billion yuan ($10.28 billion) for last year, versus earnings of 73.22 billion yuan in 2011. This compared with a consensus forecast of 62.6 billion yuan from 30 analysts polled by Thomson Reuters.
($1 = 6.2122 Chinese yuan) (Reporting by Charlie Zhu and Clement Tan; editing by Miral Fahmy and Jane Merriman)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.