Sino-Ocean GP turned a loss into a profit last year, earning 6.756 billion yuan
SINO-OCEAN GP (03377.HK) announced its full-year results for the year ended last December, with a revenue of RMB 14.837 billion, a year-on-year decrease of 37.2%. It turned a loss into a profit of RMB 6.756 billion, compared to a loss of RMB 18.624 billion in the same period last year; earnings per share were RMB 0.66. No dividend was declared.
The profit for the year was mainly due to significant progress made by the group in completing the restructuring of its offshore and domestic debts, resulting in non-cash gains
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