Shenhua posts 12.7 net rise for Q1-Q3 on 13.7 pct turnover rise

Tue. October 27, 2009; Posted: 10:35 PM

BEIJING, Oct 27, 2009 (Xinhua via COMTEX) -- CUAEF | Quote | Chart | News | PowerRating -- Leading Chinese coal producer China Shenhua Energy Co., Ltd (601088.SH; 1088.HK) posted 12.4 percent increase in net profit totalling 27.966 billion yuan in the first three quarters of 2009, according to its performance report for the third quarter of 2009 released on Wednesday.

The net profit attributed to shareholders of Shenhua surged by 12.7 percent to 24.72 billion yuan.

The report also showed that Shenhua made 88.153 billion yuan of operating revenue in the January to September period, up 13.7 percent on year, and achieving 34.778 billion yuan in operating profit, up 14.7 percent on year.

Shenhua attributed the profit rise to its marketing strategy of expanding market, optimizing product and sales structure as well as raising sales price.

In the first three quarters of 2009, the average coal sales price of Shenhua coal stood at 387.5 yuan per ton, up 4.7 percent from 370.2 yuan per ton on year.

During the same period, Shenhua exported 9.9 million tons of coal, compared to 15.4 million tons over the same period last year, and sold 179 million tons on the domestic market, up from the 156 million tons in the year earlier period.

The following is a table showing the main business indicators for the first three quarters of 2009 of Shenhua according to Chinese Accounting Principles: Q1-Q3 of 2009 Q1-Q3 of 2008 Earnings per share (yuan) 1.243 1.103 Basic return on net assets (%) 15.05 15.57 Turnover (billion yuan) 88.153 77.511 Operating profit (billion yuan) 34.778 30.314 Net profit (billion yuan) 27.966 24.879 Net profit attributed to shareholders (billion yuan) 24.72 21.938

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