TABLE-China CITIC Securities 2007 net soars five-fold
SHANGHAI, March 17 (Reuters) - Year ended Dec. 31, 2007.
(in millions of yuan unless stated, against 2006 figures):
2007 2006
Turnover 30,871.11 5,990.85
Net profit 12,388.52 2,434.65
Earnings per share (yuan) 4.01 0.89
Assets per share (yuan) 15.56 4.19
Company: CITIC Securities Co. (600030.SS: Quote, Profile, Research, Stock Buzz) is an arm of China's largest financial conglomerate, China International Trust and Investment Corp (CITIC).
Note: The company published audited results, compiled under domestic accounting standards. It had already announced in January that its net profit more than quintupled last year.
Earnings were boosted in 2007 by a bull run in the stock market, which nearly doubled the value of the main Shanghai stock index .SSEC and more than tripled daily trading turnover.
CITIC Securities said commission income rose 404 percent to 13.38 billion yuan ($1.89 billion), while income from stock underwriting fees rose 132 percent to 1.86 billion yuan.
The company warned that, for 2008, investment risks were mounting as the impact of the U.S. subprime debt crisis on China's economy and securities markets remained unclear. ($1=7.090 Yuan) (Reporting by Fang Yan and Edmund Klamann; Editing by Ken Wills)
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