(MENAFN) CITIC Securities, China's largest brokerage company, said it reported net profit skyrocket in 2014, increasing 115 percent compared to the previous year, Xinhua reported.
The company registered business revenue of USD4.79 billion in 2014, while its net profit reached USD1.881 billion last year, the company said in a statement it filed to the Shanghai Stock Exchange.
The revenue surged 83.13 percent over 2013. The company attributed the profit and revenue boom to dynamic securities market, climbing stock prices and mushrooming turnover.
According to the firm, in addition to its traditional businesses of brokerage, asset management and underwriting, the booming capital intermediary business also brought new profit growth.
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