(Xinhua)
Updated: 2007-10-17 16:24

China's Citic Securities said Wednesday its net profit for the first nine months of 2007 is likely to be about eight and a half times the figure for the same period of last year.

The net profit of the country's largest listed brokerage between January and September is estimated at more than eight billion yuan (1.06 billion US dollars).

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Its net profit was 944.88 million yuan, or 0.317 yuan per share, for the first three quarters of last year.

The flood of transactions on the booming stock market and expanding company capital has resulted in the huge increase in turnover, Citic said in a statement to the Shanghai Stock Exchange.

China's benchmark Shanghai Composite Index closed at 6,092.06 points on Tuesday, up 1.03 percent from the previous session. It has gained 127.7 percent since the beginning of the year.