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CITIC Securities reports H1 net profit up 13.3%

(Xinhua)
Updated: 2008-08-11 09:47

CITIC Securities, China's largest listed broker, reported that its first-half net profit had risen 13.3 percent year-on-year to 4.77 billion yuan ($647.4 million).

Revenue was 10.91 billion yuan, up 2.57 percent, with earnings per share of 0.72 yuan, the company said in a release to the Shanghai Stock Exchange.

Underwriting income reached 27.15 billion yuan, up 96.94 percent, while income from the traditional brokerage business fell 30.44 percent to 4.62 billion yuan amid the broad decline of China's stock market.

The benchmark Shanghai Composite Index is down more than 57 percent since it peaked in mid-October.

CITIC's shares fell 4.55 percent to 21.39 yuan on Friday, down more than 80 percent from their peak in early November.

The company also announced on Saturday that 987.35 million non-tradable shares would be unlocked on Aug 15.