Business Digest, February 25, 2013

Citic Resources slips into the red in 2012

Oil and energy firm Citic Resources reported a net loss of HK$1.28 billion last year, against a net profit of HK$2.2 billion a year earlier. The loss was partly due to one-off gains in 2011 from the disposal of the group's interest in the Codrilla coal-mining project and Australian-based mining firm Macarthur Coal. Excluding these one-off gains, net profit for last year jumped 107.4 per cent to HK$235.9 million. Revenue grew 25.8 per cent to HK$48.43 billion, driven by import and export of commodities and crude oil. Enoch Yiu

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