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China Coal Energy posts 37.6% in net profit for 2011

Mar. 28, 2012 (China Knowledge) - China Coal Energy Co Ltd<601898><1898>, the country's second-largest coal miner by revenue, announced yesterday that its net profit last year grew 37.6% year on year to RMB 9.50 billion under Chinese accounting rules.

Basic earnings per share were RMB 0.72 in 2011, and the coal producer proposed a final dividend of 21.5 RMB cents per share.

China Coal Energy realized RMB 88.87 billion in operating revenue last year, 24.7% more than in the previous year.

The coal business generated revenue of RMB 72 billion in the period, reflecting a growth of 28.1% year on year.

The company's raw coal output climbed 5.4% year on year to RMB 129 million metric tons, and its coal sales rose 14.9% to 135 million metric tons. Coke output was steady at 2.06 million metric tons last year.

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