Shenhua mines 14% rise in H1 net earnings
Source: Agencies |
August 29, 2009, Saturday
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Print Edition
Print Edition
CHINA Shenhua Energy Co, the country's biggest coal producer, yesterday said its first-half net profit rose 14 percent from a year earlier as its output and sales surged despite the fallout from the global economic crisis.
The Beijing-based company said its net profit in the January-June period was 16.9 billion yuan (US$2.5 billion), against 14.8 billion yuan a year earlier.
Its commercial coal output rose 17.6 percent over a year earlier to 105.8 million tons. Sales climbed 7 percent to 123.1 million tons.
Revenue jumped 16 percent to 57.1 billion yuan, up from 49.8 billion yuan in the first half of last year.
Shenhua, which has operations spanning mining, shipping and power generation, benefited from a jump in government spending earlier this year aimed at reviving slowing economic growth.
The Beijing-based company said its net profit in the January-June period was 16.9 billion yuan (US$2.5 billion), against 14.8 billion yuan a year earlier.
Its commercial coal output rose 17.6 percent over a year earlier to 105.8 million tons. Sales climbed 7 percent to 123.1 million tons.
Revenue jumped 16 percent to 57.1 billion yuan, up from 49.8 billion yuan in the first half of last year.
Shenhua, which has operations spanning mining, shipping and power generation, benefited from a jump in government spending earlier this year aimed at reviving slowing economic growth.
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