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China Shenhua Energy targets 2.8% growth in 2012 coal output

Mar. 26, 2012 (China Knowledge) - China Shenhua Energy Co Ltd<601088><1088>, the country's largest coal producer, said that it aims to produce 289.9 million metric tons of commercial coal this year, 2.8% more than in 2011, the sources reported.

The company plans to sell 410.5 million metric tons of coal and generate 199.6 terawatt hours (TWh) of electricity in 2012, reflecting a year-on-year growth of 6% and 19.1%, respectively.

In 2011, the coal company saw its commercial coal output grow 14.8% year on year to 281.9 million metric tons and its coal sales jump 23.7% year on year to 387.3 million metric tons. Electricity output surged 27.2% to 179.97 TWhs and electricity sales rose 27.3% to 167.61 TWhs last year.

China Shenhua Energy on Friday reported a net profit of RMB 44.82 billion of net profit for 2011, 18.4% more than in the previous year. Basic earnings per share were RMB 2.25 last year. The company proposed a final dividend of RMB 0.90 per share.

Operating revenue increased 32.1% year on year to RMB 208.20 billion last year.

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