Sinoma nine-month net profit down 76 per cent, China

Sinoma said its net profit attributable to equity holders of parent dropped 76.41 per cent YoY to CNY305m (US$48.9m) for the nine months ended 30 September 2012.

Its basic and diluted earnings per share were CNY9 cents.

Operating revenue was CNY36.73bn, an increase of 3.5 per cent from a year earlier.

Morgan Stanley said the fall in profit missed market expectations and expects Sinoma’s 2013 earnings to stay flat.