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Hidili Industry reports 28.46% decline in profit for H1

Aug. 28, 2012 (China Knowledge) - Hidili Industry International Development Ltd<1393>, the largest coking coal miner in southwestern China, has announced that its net profit fell 28.46% YoY to RMB 186 million in the first half of this year.

Earnings per share were 9 RMB cents in the period, down 28.6% YoY. No Interim dividend was proposed.

Gross profit was RMB 786 million in the six-month period, up 8% YoY.

The company's turnover rose 12.1% from the same period of last year to RMB 1.26 billion in the first six months.

In the second quarter, the firm's sales of cleaned coking coal jumped 23% YoY to 480,000 metric tons, while average sales price fell 14% to RMB 1,159 per metric ton. Sales of coke surged 85% to 61,000 metric tons in the period.

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