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China's Western Securities profit up 75 to 93 pct in 1H

2019-July-11       Source: Xinhuanet.com

Western Securities Co., Ltd. forecast that its net profit in the first half of 2019 grew 75 percent to 93.5 percent year on year amid a stock market recovery.

Western Securities Co., Ltd. forecast that its net profit in the first half of 2019 grew 75 percent to 93.5 percent year on year amid a stock market recovery.

The net profit attributable to its shareholders in the January-June period was between 439.3 million yuan (63.9 million U.S. dollars) and 485.5 million yuan, the Xi'an-based securities broker said in a filing to the Shenzhen Stock Exchange.

The broker said the strong earnings growth came after a stock market recovery, ensuring growth in its securities brokering business and proprietary trading business.

China's benchmark Shanghai Composite Index gained 23.93 percent in the first quarter of the year before retreating 3.62 percent in the second quarter.

Editor: Monica Liu

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