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Shanxi Coal Int'l expects 2011 profit to rise 49.06%

Jan. 20, 2012 (China Knowledge) - Shanxi Coal International Energy Group Co Ltd<600546> announced yesterday that it expected its net profit to grow 49.06% year on year to RMB 1.13 billion in 2011.

The coal producer said in a statement filed with the Shanghai Stock Exchange that basic earnings per share were RMB 1.50 last year.

The company saw its unaudited net profit soar 80.29% year on year to RMB 69.7 billion.

The Shanghai-listed coal producer said that strong growth in net profit was mainly due to contributions from newly-operated Pulongwan coal mine and another Shanxi-based coal mine.

In the first three quarters of last year, the company' net profit rose 73.58% year on year to RMB 1.03 billion, and its core business revenue jumped 63.47% to RMB 41.17 billion.

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