Higher profits for listed firms

Source: Xinhua | 2018-06-07

LISTED companies in China posted higher profits in the first half of 2018 on booming industry growth, the China Securities Journal reported.

By Tuesday, 1,116 companies had released their interim result forecasts, 769 of which expected higher profits, the newspaper said, citing data from financial information provider Wind.

Among them, 153 companies forecast profits more than double those in the first half of this year.

In general, listed firms in the A-share market sustained high profitability in the first half.

The better performance was attributed to expansionary main businesses, price rises, and industry recovery and restructuring.

The better corporate profits came amid a solid economic growth in the first quarter, when the Chinese economy grew 6.8 percent annually.

In 2017, China’s GDP grew 6.9 percent, picking up the pace for the first time in seven years.