COSL Soars with Record 2007 Profits

China Oilfield Services Limited, COSL, reported that the company's 2007 year-end revenues increased by 40% over the previous year while the company's net profit increased about 95% in comparison to the previous year.

The net profit for the company in 2007 was more than RMB 1.1 billion while the earnings per share was RMB0.2823.

The recording period for the increases is from Jan. 1, 2007 to Dec. 31, 2007. COSL's board stated that "all business segments have recorded growth, which together with the increases in service charge[s] have led to a significant increase in profits."

COSL grew last year, as well, putting up a net profit increase of 37.4% in 2006 in comparison to 2005.