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Coal producer's January-May profit up 62%

(Xinhua)
Updated: 2008-06-06 15:44

China National Coal Group Corp (CNCG), a major centrally-administered State-owned company, said Friday that profits rose 61.8 percent year-on-year to 4.1 billion yuan ($585.7 million) in the first five months of this year.

CNCG said operating income rose 42.7 percent to 31 billion yuan.

The group produced 47.09 million tons of coal, up 13.2 percent, and 2.48 million tons of coke, up 24.4 percent.

It sold 41.94 million tons of coal, up 19.9 percent. Of total coal sales, 35.09 million tons were sold domestically, up 28.3 percent, and 6.83 million tons were exported, up 7 percent.

The group's listed arm, China Coal Energy, produced 41.41 million tons of raw coal, up 15.1 percent, and 1.72 million tons of coke, up 36.7 percent.

The Shanghai- and Hong Kong-listed company sold 38.48 million tons of coal, up 16.4 percent, including 31.63 million tons in China and 6.83 million tons abroad, up 24.3 percent and 7 percent respectively.