Staff cuts in part behind Sinopec profit jump

摘要

Hong Kong- and New York-listed Chinese oil group China Petroleum and Chemical Corp Mar 29 announced a 32.35% on-year increase in net profits for 2003 at Yuan 21.59-bil (US2.61-bil),on turnover of Yuan 424.3-bil,up 28.9% on 2002.Sinopec's operating profits soared 29.95% to Yuan 37.27-bil.