Sinopec Engineering Co., Ltd. Announces Group Earnings Guidance for the Twelve Months Ended 31 December 2017
January 30, 2018 at 03:31 am EST
Share
Sinopec Engineering (Group) Co., Ltd. announced that, based on the information currently available to the company, it is expected that the net profit after tax of the group for the twelve months ended 31 December 2017 will decrease by approximately 25% to 35% as compared to that of the corresponding period in 2016, mainly due to the decrease in the Group's total new contract value in 2016, the decrease in investments in the domestic and overseas oil refining, petrochemical and new coal chemical industries in 2017, fierce competition in the engineering market and other factors.
Sinopec Engineering Group Co Ltd is a China-based company mainly engaged in the engineering, procurement and construction contracting (EPC) business. The Company operates four segments. Engineering, Consulting and Licensing segment provides design, consulting, research and development, feasibility studies, compliance certification services to oil refining and chemical industries. EPC Contracting segment provides integrated engineering, procurement, construction, maintenance and project management services to oil refining and chemical industries. Construction segment provides infrastructure for oil refining and chemical industries, oil and gas storage, pipelines transportation, construction, renovation, expansion, repair and maintenance services and large equipment lifting and transportation services in construction projects. Equipment Manufacturing segment engages in the design, development, manufacture and sales of equipment and spare parts for oil refining and chemical facilities.
SINOPEC ENGINEERING (GROUP) CO., LTD. 
