Energy

China Shenhua says net profits up 23% last year

(Xinhua)
Updated: 2011-03-26 15:58

BEIJING - China Shenhua Energy Co Ltd, China's largest coal producer, said Saturday that its net profits reached 37.19 billion yuan ($5.63 billion) in 2010, up 22.8 percent from the previous year.

The Shanghai-listed company said in its annual business report that revenues last year increased 25.3 percent to top 152 billion yuan.

Related readings:  Shenhua shortlisted in bid to develop Mongolian coalfield  China's Shenhua says CTL plant to begin storing carbon in '11  Shenhua Group to invest $78b on expansion in 2011-15  Shenhua Group prepares pilot CCS facility

Earnings per share went up 22.8 percent to 1.87 yuan per share, according to the report posted on the Shanghai Stock Exchange website Saturday.

As of the end of 2010, the total assets of the Beijing-headquartered company amounted to 339.27 billion yuan, representing a rise of 9.3 percent compared to the same period in 2009.

The report said the company's coal output rose by 6.8 percent to reach 224.8 million tons last year, while sales increased 15.1 percent to reach 292.6 million tons.