China Knowledge reported that China Coal Energy Co Ltd net profit rose 10% to CNY 7.83 billion in 2009 from CNY 7.13 billion in 2008 boosted by an increase in coal output amid rising demand.
The firm said in its annual report that its revenue climbed 2.8%YoY to CNY 53.19 billion last year.
In 2009, China Coal Energy produced 108.6 million tonnes of coal, 8.2% more than in the previous year.
The coal producer recently released its financial results for the Q1 2010 which said its net profit surged 42% to CNY 1.98 billion from the CNY 1.39 billion realized in the same period of 2009.
The firm operating profit jumped 55%YoY to CNY 15.59 billion in the period from January to March of this year.
China Coal Energy said earlier this month that its commercial coal output grew 44%YoY to 31.31 million tonnes in the Q1 of this year, while its coal sales swelled 48% to 26.5 million tonnes during the period.
(Sourced from China Knowledge)
Sunday, April 25, 2010
China Coal Energy net profit in 2009 up by 10pct
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