Coal miner profits
By Feng Jianmin |
April 24, 2010, Saturday
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Print Edition
Print Edition
CHINA Coal Energy Co, the nation's second-largest coal producer, reported its net profit surged in the first quarter after the country's economic recovery strengthened and demand rose.
The net profit climbed 43 percent annually to 1.98 billion yuan (US$289.9 million) in the first three months, faster than the increase of 18.1 percent last year, the company said yesterday.
The rapid expansion rate was supported by lucrative sales of coal and mining equipment as well as rising coal prices after demand surged, fueled by the country's massive 4 trillion yuan stimulus package.
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The net profit climbed 43 percent annually to 1.98 billion yuan (US$289.9 million) in the first three months, faster than the increase of 18.1 percent last year, the company said yesterday.
The rapid expansion rate was supported by lucrative sales of coal and mining equipment as well as rising coal prices after demand surged, fueled by the country's massive 4 trillion yuan stimulus package.
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