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China Shenhua Energy's H1 net profit up 13.9%
Source :China Knowledge update : 2010-08-31
China Shenhua Energy Co Ltd<601088><1088>, the listed unit of China's largest coal producer, said its net profit for the first half of this year grew 13.9% year on year due to increases in coal prices and output, sources reported.
In a statement filed with the Shanghai Stock Exchange, the coal producer said that its net profit during a six-month period end Jun. 30 was RMB 19.27 billion, whereas it earned RMB 16.92 billion in the same period of last year.
In the period from January to June, revenue increased 22.2% to RMB 69.73 billion from RMB 57.08 billion a year earlier, according to the statement.
China Shenhua said the company will face more uncertainties in the second half of this year due to the possible slowdown of China's economy.
In the first half of this year, China Shenhua produced 109.2 million tons of coal, up 3.2% year on year. The company's coal sales volume grew 12% year on year to 137.4 million tons, said the firm.
In a statement filed with the Shanghai Stock Exchange, the coal producer said that its net profit during a six-month period end Jun. 30 was RMB 19.27 billion, whereas it earned RMB 16.92 billion in the same period of last year.
In the period from January to June, revenue increased 22.2% to RMB 69.73 billion from RMB 57.08 billion a year earlier, according to the statement.
China Shenhua said the company will face more uncertainties in the second half of this year due to the possible slowdown of China's economy.
In the first half of this year, China Shenhua produced 109.2 million tons of coal, up 3.2% year on year. The company's coal sales volume grew 12% year on year to 137.4 million tons, said the firm.