Companies

China Oilfield 2010 net profit rises 31.7%

(Xinhua)
Updated: 2011-03-23 13:52

BEIJING - China Oilfield Services Limited (COSL), a leading integrated oilfield services provider, posted a 31.7 percent year-on-year net profit increase as its exploration business expands.

Its net profit hit 4.13 billion yuan ($629 million), COSL said in its 2010 annual report filed to Shanghai Stock Exchange on Wednesday.

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The company's earnings per share stood at 0.92 yuan.

COSL said its profit increase was due to expanded exploration driven by commencement of operations of key large-scale equipment.

The A-share price of the company opened up 0.52 percent from the previous close to 23.23 yuan Wednesday.