Datong Coal reports 203.62 pct growth in H1 net profits

Shanxi-based Datong Coal Industry Co., Ltd., a pillar coal producer in China, reaped CNY 741.931 million net profits for the first half of 2008, rocketing 203.62% year over year.

Thanks to the rising coal prices, the company gained operating profits of CNY 1.447 billion in H1, up 229.82% from a year earlier, and the total profits reached CNY 1.43858 billion, up 230.95%. The earnings per share hit as high as CNY 0.89.

From the start of 2008 to the end of June 30, Datong Coal produced 10.69 million tons of coal, 1.1234 million tons or 11.74% higher than 9.5711 million tons in the same period of 2007. The company sold 9.164 million tons of coal, 2.1592 million tons more than 7.0048 million tons a year ago.

Notably, its major base Tashan Coalmine produced 5.6575 million tons and sold 4.0347 million tons, rising 924,600 tons and 1.345 million tons, respectively.