Friday, January 09, 2009

Shenhua Group 2008 profit up 28.5%

Shenhua Group, parent of China Shenhua Energy Co<601088><1088>, said its profit in 2008 surged 28.5% year-on-year to RMB 38.3 billion due to the increased output.

The company said in a statement posted on the website of State-Owned Assets Supervision and Administration Commission (SASAC) that its raw coal output for last year rose 19.3% to 281.25 million tons, with a total sales volume of 311.20 million tons.

Electricity output hit 111.8 billion kilowatt during the year, representing a year-on-year growth of 15.6%.

The group's operating income amounted to RMB 140.6 billion, up 31.3% from a year earlier, and the gross profit reaped for the year went up 28.5% year on year to RMB 38.3 billion.

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