Jan. 16, 2012 (China Knowledge) - CITIC Securities Co<600030
>, China's largest listed brokerage firm, said last Friday that it expects its net profit to increase 11.07% year on year to RMB 12.56 billion in 2011.
The company said in a statement that earnings per share were estimated at RMB 1.23 last year, up 10.8% year on year.
The increase in net profit was mainly due to one-off gains from the sale of a 51% stake in China Asset Management late last year.
The brokerage firm's unaudited operating revenue fell 9.99% year on year to RMB 25.02 billion in 2011.
CITIC Securities said earlier that its unconsolidated profit was RMB 4.45 billion in December last year, and its unconsolidated operating revenue was RMB 8.92 billion.