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Shanxi Coal International Energy Q1 coal output up 7pct

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Publish time: 4th May, 2016      Source: www.cnchemicals.com
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Shanxi Coal International Energy Group Co., Ltd., one leading coal producer, saw its commercial coal output up 7% on year to 4.3 million tonnes in the first quarter of the year, it said in the latest quarterly report.Commercial coal sales during the same period fell 41.5% on year to 12.76 million tonnes.Meanwhile, net profit of the company slumped 955.3% on year to 49.92 million yuan ($7.7 million).The company produced 19.53 million tonnes of raw coal in 2015, up 14.9% year on year, mainly due to the operation of Lutaishan and Changchunxing coal mines. But coal sales last year fell 38.2% to 64.44 million tonnes.The company planned to maintain coal output at 20 million tonnes this year.In 2015, the company saw its loss reach 2.33 billion yuan, up 660 million yuan from the year before, the second consecutive yearly increase. It was implemented delisting risk warning on May 3.