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China Coal Energy's H1 profit down 4.1%

Aug. 22, 2012 (China Knowledge) - China Coal Energy Co Ltd<601898><1898>, the country's second-largest coal miner by revenue, has announced its net profit attributable to shareholders to decrease 4.1% YoY to RMB 4.77 billion in the first half of this year.

According to a statement, the coal miner saw its operation revenue for the six-month period hit RMB 45.41 billion, reflecting a YoY increase of 5.4%. Basic earnings per share were RMB 0.36.

In the first half of this year, the company's raw coal output rose 7.3% YoY to 70.34 million metric tons. Meanwhile it produced 55.24 million metric tons of commercial coal and 0.92 million metric tons of coke in the period, up 6.4% and down 10.7% YoY, respectively.

The company sold 72.09 million metric tons of commercial coal during the reporting period, reflecting a YoY increase of 8.7%. However the sales of coke in the period dropped 11.9% YoY to 1.19 million metric tons.

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