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China Coal Energy says net profits down 0.5% in H1
(Xinhua)
Updated: 2009-08-15 11:27

BEIJING: China Coal Energy Company Ltd. reported its net profits in the first half of this year edged down 0.5 percent from a year earlier to 3.53 billion yuan ($516 million) on squeezed exports.

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Earning per share was 0.27 yuan in the first six months, the same from the same period of last year, the company said in its statement to the Shanghai Stock Exchange late Friday.

Business revenue stood at 22.76 billion yuan, down 11.8 percent from a year earlier because of a slump of the coke sector and falling coal exports in the first half amid the global economic downturn, according to the statement.

The company produced 52.67 million tonnes of coal from January to June, up 5.4 percent year on year. Sales volume dropped 10.3 percent from a year ago to 41.13 million tonnes, the statement said.

The statement also said July saw the company's coal output climbed 33.5 percent from a year earlier to 10.32 million tonnes.