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China Coal Energy says net profits down 0.5% in H1

(Xinhua)
Updated: 2009-08-15 11:46

China Coal Energy Company Ltd reported its net profits in the first half of this year edged down 0.5 percent from a year earlier to 3.53 billion yuan ($516 million) on squeezed exports.

Earning per share was 0.27 yuan in the first six months, the same from the same period of last year, the company said in its statement to the Shanghai Stock Exchange late Friday.

Special Coverage: Interim Results of Listed Companies Related readings:  China Coal Energy 2008 profit up 17.7%  China Coal produces 52.7m tons of coal in H1, up 5.4%

Business revenue stood at 22.76 billion yuan, down 11.8 percent from a year earlier because of a slump of the coke sector and falling coal exports in the first half amid the global economic downturn, according to the statement.

The company produced 52.67 million tons of coal from January to June, up 5.4 percent year-on-year. Sales volume dropped 10.3 percent from a year ago to 41.13 million tons, the statement said.

The statement also said July saw the company's coal output climbed 33.5 percent from a year earlier to 10.32 million tons.