SINOPEC Engineering Co. Ltd. has announced its annual results for the year ended 31 March 2016.
The results highlights include:
- During the Reporting Period, the Company's revenue was RMB45.498 billion and net profit was RMB3.318 billion. Basic earnings/share were RMB0.75.
- The total dividend for the year will be RMB0.297/share.
- During the Reporting Period, Revenue from the Company's EPC Contracting segment reached RMB27.839 billion, accounted for 56.5% of total revenue.
- During the Reporting Period, the value of new contracts amounted to RMB52.676 billion. As at 31 December 2015, backlog of the Company amounted to RMB111.100 billion, representing an increase of 6.9% and 2.44 times of the total revenue in 2015.
- During the Reporting Period, the Company signed Kuwait Oil Refining Project with a contract value of approx. USD1.7 billion. For the Company, it is the largest contract and project gained in the Middle East region as well as a milestone in establishing and strengthening its business in the Middle East market.
The Company's large project in terms of contract value executed in the Middle East - Kuwait Oil Refining Project (contract value of USD1.69 billion) has commenced. As at the end of the Reporting Period, the detailed design of the projects has been started, requisition of critical equipments has been commenced.
Additionally, at the National Science and Technology Awards Conference held on 8 January 2016, the project "Development and Application of Packaged Technology for Efficient and Environmental-Friendly Aromatics" engaged by the Company won the 2015 National Special Award for Scientific and Technological Progress.
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/25032016/seg-announces-2015-annual-results-564/