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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.

 

Write to Justina Lee at justina.lee@wsj.com

 

(END) Dow Jones Newswires

April 27, 2022 20:35 ET (00:35 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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