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Engergy: Shenhua Energy Q1 net profit up 37.6%

(Agencies)
Updated: 2008-04-25 15:18

China Shenhua Energy Co Ltd said its first-quarter net profit rose 37.6 percent to 6.77 billion yuan ($966.31 million) from the year-earlier 4.92 billion due to higher coal output and sales and increased power generation.

Sales for the three months stood at 23.79 billion yuan, up from 18.49 billion in the corresponding period last year.

The figures were compiled under international accounting standards.

Commercial coal production in the first three months of the year was up 19.6 percent year-on-year to 44.6 million tons, while coal sales rose 21.7 percent to 56.7 million tons, of which 4.6 million tons were exports.

Gross power generation rose 30.2 percent to 23.6 billion kwh, while total power dispatch stood at 22.08 billion kwh, up 30.7 percent.