BEIJING - Datong Coal Industry Co Ltd, one of China's leading coal producers, said Wednesday its 2009 net profit rose 2.55 percent on the back of rising coal output and strong sales.
Net profits hit 1.49 billion yuan ($218.16 million) last year on revenue of 9.49 billion yuan, which was up 13.1 percent from 2008, said its annual report filed with the Shanghai Stock Exchange.
Earnings per share rose 2.3 percent to 1.78 yuan.
The company attributed its profit growth to higher coal output, which hit a record 25.79 million tons last year.
The company said its coal sales amounted to 21.77 million tons last year, without providing the 2008 figure.
The Shanxi-based company expressed confidence in this year's profit growth as the country's economic recovery would create more demand for coal and its prices had already shown signs of rises.
The company's stock rose 6.33 percent to 40.81 yuan per share Wednesday.