China Shenhua Energy's 1Q Net Profit Rose 67% on Year
By Justina Lee
China Shenhua Energy Co. reported a 67% rise in first quarter net profit, driven by higher coal prices.
Net profit for the January-March quarter was CNY19.80 billion ($3.02 billion), compared with CNY11.86 billion a year earlier, it said Wednesday.
Revenue grew by 24% to CNY83.90 billion.
The energy company expects coal prices to fluctuate within a reasonable range, and reckons that economic growth in 2022 could help support higher coal consumption.
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(END) Dow Jones Newswires
April 27, 2022 20:35 ET (00:35 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.