Apr. 19, 2012 (China Knowledge) - Shanxi
Xishan Coal and Electricity Power<000983
>, which has the biggest domestic coking coal manufacturing base in China, has announced that its net profit climbed only 0.47% year on year to RMB 1.02 billion in the first quarter of this year.
The company said the Q1 net profit remained flat because of depressed downstream steel and coking industries.
Xishan Coal and Electricity Power's revenue grew 7.63% year on year to RMB 8.06 billion in the first quarter.
The coking coal producer earlier reported a net profit of RMB 2.82 billion for last year, 6.47% more than in 2010.
The firm's operating revenue surged 79.27% year on year to RMB 30.37 billion in 2011.