China Shenhua Energy profit up 40.2% in Q1
China Shenhua Energy Co Ltd, the nation’s biggest coal producer, on Thursday reported its first-quarter net profit rose 40.2% from a year earlier on the back of increased output.
It realized RMB 6.5 billion in net income based on international accounting standards, up from RMB 4.63 billion of the same period last year, and revenue in the period increased 29% to RMB 23.8 billion, the company said in its earnings report.
Sale price of its coal products averaged at RMB 345.1 per ton, up 10.3% year on year, in which, coal for export was priced at RMB 461 a ton, up 15.8% from a year earlier and that for domestic sale rose 11% to RMB 334.9 a ton.
In earlier statements, the company said its coal output climbed 20% to 44.6 million tons from January to March and it sold 56.7 million tons of coal in the period, a yearly increase of 22%.
Tags: coal, export, Shenhua