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China Shenhua 3Q profit up 12 pct as output rises

China Shenhua 3Q profit up 12 pct as output rises

China Shenhua Energy Co., the country's biggest coal producer, said third-quarter net profit rose 12 percent from a year earlier as its output and sales picked up in line with the economic recovery.
The Beijing-based company said net profit in July-September was 8.74 billion yuan ($1.28 billion), compared with 7.79 billion yuan a year earlier.
Shenhua, which has operations spanning mining, shipping and power generation, benefited from a jump in government spending earlier this year aimed at reviving slowing growth.
The company's commercial coal output rose 10.6 percent in the third quarter from a year earlier to 53 million tons. Sales climbed 17.5 percent to 56.6 million tons.
Revenue in the first three quarters of the year jumped 14 percent to 88.1 billion yuan ($12.9 billion), up from 77.5 billion yuan a year earlier. The company did not give a revenue figure for the third quarter.


Updated : 2021-05-12 12:35 GMT+08:00