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China Coal Energy expects 2011 profit to hit RMB 10.3 bln

Jan. 11, 2012 (China Knowledge) - China Coal Energy Co Ltd<601898><1898>, the country's second-largest coal miner by revenue, said yesterday that it expected its net profit to surged 36.09% year on year to RMB 10.30 billion in 2011.

The company said in a statement filed with the Shanghai Stock Exchange that basic earnings per share were estimated at RMB 0.72 last year.

The coal producer saw its unaudited operating revenue rise 24.49% from the previous year to RMB 88.72 billion in 2011.

In 2010, the company's net profit was RMB 7.57 billion and its operating revenue was RMB 71.27 billion.

In the first eleven months of last year, China Coal Energy produced 94.41 million metric tons of commercial coal, 8.7% more than that in the same period of 2010, and its coal sales reached 120.99 million metric tons, increasing 11.5% year on year.

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