China Coal Energy profit up 15.9pc

PUBLISHED : Thursday, 28 April, 2011, 12:00am
UPDATED : Friday, 08 May, 2015, 9:51am

China Coal Energy, the listed flagship of the nation's third-largest coal producer China National Coal Group, posted a 15.9 per cent year-on-year rise in first-quarter net profit to 2.3 billion yuan (HK$2.7 billion). Revenues grew 34.1 per cent to 20.91 billion yuan, thanks to a 10.7 per cent rise in sales volume of self-produced coal to 2.5 million tonnes and a 5.1 per cent increase in average selling price to 476 yuan per tonne. The benefits were offset by an 11.9 per cent rise in cost of sales to 223.13 yuan per tonne.